Just a quick note tonight folks.
I am a big fan of following the money and seeing what stocks are selling into strength.
Check out this chart from the WSJ.
Take a look at what stocks are getting dumped faster than a cheap hooker into this rally. Notice that Citi is #2 on the list and Goldman is also in the top 10. Many other financials were up towards the top of the list.
I think Monday will be critical for the market. Paulson just shot his last bazooka, and the economy is still on the ropes. The fundamentals haven't changed folks!
BTW, I am hearing that many Americans are jamming the phone lines and freaking out on their representatives in Congress over this proposed trust.
You may see some demonstrations over the weekend. Some are viewing this weekend as the last chance to rise up and protest financial socialism and the dumping of this Wall St. disaster onto the taxpayer.
I will be on The Housing Time Bomb all weekend with the latest headlines.
3 comments:
I just picked up some data that scared the lights out of me.
Too tired to post it now but stop by tomorrow and it will be up.
Also FYI
Spoke to a guy in commercial lending. Things are bad. Rumors are floating that the muni market is in trouble.
This crisis is spreading everywhere folks.
Not the San Francisco Muni, Jeff? No!!! How the hell will I get to work??! (Assuming I have a job.)
Bencke
Just keep your eyes and ears open at work. This is just second hand information which is why I said its a rumor.
People are scared right now and in a panic so you can't believe everything you hear.
I throw it out there as a warning. If you hear anything let us know.
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