SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Welcome to Slider's Dugout
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: SliderOnTheBlack who wrote (9443)5/5/2008 1:51:18 PM
From: RonMerks  Read Replies (1) of 50102
 
Re-'This rate cut was about "one thing"... An attempt to jam-job the DOW over the 13,000 technical level, so that Ma & Pa Kettle would be drawn back into the market -- allowing Wall St. insiders another trading exit.'

Slider- the financials are rolling over. This whole stinking rally in financials was about the SEC memo allowing all these banks to LIE and COOK THE BOOKS. That's the only damn thing that's changed. And look at whats happening-

The XLF can't get out of its own damn way.

Look at how weak the volume was on this rally.



Everyone is trying to 'sell' us on the idea that the financials have bottomed and that the credit crisis is over. But that chart tells a different story- namely THE TRUTH!

And the truth is that their dumping into every rally we buy!

And why shouldn't they? The Fed may be RAISING rates by September! The housing inventory is so big- that we won't work through it in the next TWO YEARS! And if the economy continues to slow- more deliquencies and then the credit card and auto loan blow up comes to full bloom.

And we wonder why the SWF's arent putting in more money into financials here, or why Bank of America is getting cold feet on Mozilo's Countrywide house of cards.

If the XLF can't take out 30- I think it's going to 20-22. At 20-22 I may be a buyer, but not until.

Thoughts anyone?

Ron
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News