Just using BAC as proxy , the "boyz" did play it beautifully off another one of those "fateful mondays" Dec 19th as the Euro dillemma coupled with the slowing Chinese/Brazil growth story had played out for just a little too long . Am absolutely sure these periods of negative headlines are tacitly disseminated & concerted effort to some degree .
For no sooner did BAC hit $5 again that day just as previous fateful monday october 3rd , they have loaded up & in both cases just several weeks before earnings runs start this is when they move in together buying up the cheap bargains and known winners into earnings , they had already bid up every divi stock & safe haven and anyone couldn't miss the rebound in the rails & homebuilders which started oct .
Still find it so humorous on even on dec 19th how few traders (not here ) was teasing that day when BAC hit $4.94 to step in & buy refused to do so the negativity had been so well played out . There's nothing in the world , not shipwrecks or Greek defaults that is going to let them not get their bonuses & earnings rally , short of another Tsunami or nuclear war ! Speaking of wrecks a prime example was the CCL tank on the news but look at that reset low of $28 , be sure i was buying up plenty there that morning it fell . Many & most of what i call "Reset Lows" were all 25-35% gainers recently in short order .
Just like the october monday 3rd event that saw BAC near $5 & market get bought huge the next day , what is notable is how the news out of europe though still bad takes on more hopeful tones all of a sudden as if someone has been on the horn saying , OK now we need some positive chatter please ! The bailout fund is being increased , China might aid with some of the debt , the Fed is funneling liquidity and always right after things are reaching the brink ....
And the market ran from that monday oct 3rd into earnings , and so it did again & thats all one needed to know ...so many beaten down good stocks that were bottomed trading sideways were the good buys , especially some of the mostly hugely beaten down even NFLX & FSLR or Eddie Lampert's manipulating SHLD back up $800mil worth of value making it the hottest stock of the new year .
Around dec 29th when BAC tanked some were still good shorts but was tracking those i knew would do well especially MON that fired off the October rally and the best of breed in the fertilizers CF which i was playing dips then off $128/29 . If any stock was going to clearly rebound earliest it would be CF for Dave Tepper was in before & would again and ofcourse MON reports first in the season crushed shorts again as in Oct and flew .
Once market bounced off dec 29 monday , it was look for the beaten down basing stocks or the ones that tanked far too much that will always rebound , take ORCL as one example after miss =$25 low . Other nice momos GMCR off $40 area (what great short too ) NFLX , PANL , MAKO LNG and tese little bios INHX ,IDIX & ACHN as these big druggies are looking for new pipeline . AMGN GILD have just been unreal bidding up and of course this bidding up everything home related see chart for HD , TOL LEN etc .
FHA loans right now are around 3.5% down and under 4% and 10yr loans some going 35 or under 3%.....and they ran them seeing this right off that Oct 3rd monday tank low . Kudos to the boyz they banked then & banked it now right into AAPL's earnings tues followed by big Oils end of month , that should signal top for sure and an entire new group of people get stuck up at the top .
As we see the SP just tagging the overbought , should i be so bold to call a top here ...any higher and they are just asking for it . |
