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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (42406)11/30/2000 12:08:50 PM
From: Terry Whitman  Read Replies (3) of 436258
 
I think you should take a few things into consideration about the banks before you throw any more money away on puts.

AG and da Fed Boyz PRIMARY mission in life is to keep the banking system working smoothly. We saw that in action in 1998.

If the banks get into trouble, the Fed will do everything in it's power to rescue them. The Nazdung can go straight to hell as far as they are concerned, but the banks are sacred. If there were huge problems with the banks, we would have seen the fed in action already.

If the banks start to falter, and the fed moves to help, and it doesn't help.... THEN, I would start to get real worried. <ng>

This market puke is simply a correction of the excesses of the last 5 years or so. In '98, the system wasn't ready for it, and needed bailing out. This time, I think they were ready..
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