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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: pater tenebrarum who wrote (72554)10/28/1999 7:20:00 PM
From: flatsville  Read Replies (2) of 86076
 
heinz--I just heard Pisani say that three bank analysts from big houses (don't recall names) were telling customers to take money off the table in bank stocks, that banks/brokers are "fairly valued" etc..

Pisani said the floor traders were overwhelmed with the volume and suspected momentum traders...This run-up in financials doesn't sound like it will hold and lends credence to the sector rotation argument.

P.S.--I normally turn CNBS off by now, but they're gonna trot out some old geezer who was on the floor in 1929 and is still a floor trader for an interview...Should be interesting

Edit: He was a 19 yr old page. Still has a seat.
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