An open hand slap is just as good actually.
It’s hard NOT to be pissed if you understand capital markets and root for CAPITALISM. But, if you follow price and price alone as I try and do, you can catch a shekel here and there as the ‘Bear’ market gets even more exciting.
We are in for one hell of a ride the next little while and both the bulls’ and ‘bears’ will be tested. While I don’t practice what I preach all the time and have been trading somewhat back and forth, it’s best to continue to do less. I have limited by bullshit trading to Twitter.
People see the Dow up 800 points from the low and are chasing. The ‘bears’ are fading the strength and feeding the rally at this time. It’s a market that will make the best traders feel like amateurs.
Let’s be clear about one thing – BANKERS (Executives) and GOVERNMENT Officials will now do everything in their power to save what’s left of the financials.
What’s important is how the market REACTS to all the slam dunk banking and capital changes when they DO INDEED get jammed through. There will be some massive winners evolving from the policy changes. If you read this blog, leave the banks alone and forget the stock market indices…there are major headfakes going on and the noise is deafening.
Just today, Wachovia executives poleaxed 6,500 of the hardest working people they probably had to save their jobs. They cut the dividend and cried for the Fed money nipple to stay open .
Hank ‘Spank Me’ Paulson has the shitass job of controlling the panic and crying with more money printing and bailouts . I don’t care about how much money and power he has, his job sucks balls.
All this bullshit will settle down eventually and while everyone tries to pick a bottom in financials, the big winners will emerge in bundles of volume and price appreciation in some industry you never have heard of. Of course, the banks that survive will thrive because it’s the dumb assed simplest business to run, but I am not making my big bets there.
In the meantime just whack a banking executive and keep an eye on the all-time high list. It’s interesting as I have been banging out names in my Twitter Feed.