"Best day for banks ever!"

[spudea]

Is what some talking head said on fast money. Interesting considering all the anxiety over Indymac and Freddie/Fannie, to suddenly have a breadth of good news for banks. Somebody wanted to sure up consumer confidence.

If only I had a magic wand that could reveal the market manipulation of the Fed, treasury, and PPT!

 

[latkinson6]

what do yall think will happen tomorrow?
I'll guess (speculate ), today will be undone and then some.

 

[LiveFree79]

what do yall think will happen tomorrow?
I'll guess (speculate ), today will be undone and then some.

Yes you'd re right if there was ANY rationality to the market right now. I think people are just clinging on to any hope they have. I mean pretty the entire banking system is on the verge of collapse but the market had its best day in 3 months? Wallstreet and the stockmarket is nothing more than a gambling casino these days. And your average America keeps buying into it. The market is rigged and manipulated. It's a damn game. I think the market will go keep going back up incrementally.

 

[danberkeley]

this is a great time to short every financial. assuming you covered your shorts before they went way up.

 

[Conza88]

this is a great time to short every financial. assuming you covered your shorts before they went way up.

I've done exactly that....

 

[rockandrollsouls]

I've done exactly that....

I bought put options in a couple...specifically fannie. I've got until august 16th....not alot of time...but I don't think they can keep the charade up for another month. We'll see what happens I guess...I'm hoping the other financials don't post better than expected quarters...it could drive them up again.

 

[Conza88]

Ahh keep in mind, I'm playing with funny money.

http://vse.marketwatch.com/Game/Homepage.aspx

But yeaaaaah, that ain't much different to FRN's...

 

[rockandrollsouls]

Ahh keep in mind, I'm playing with funny money.

http://vse.marketwatch.com/Game/Homepage.aspx

But yeaaaaah, that ain't much different to FRN's...

funny money is weak.

Nah, but in all seriousness it's about being smart with your money. I didn't go all out, but I'm confident enough.

 

[IChooseLiberty]

I actually think we'll rally here for a bit. This was pretty easily predicted as, at the close Monday, we finished on the bottom resistance line of the downtrend channel for the DJIA.

I'm looking for a bottom on SKF @ ~110 but it could come sooner at 120 or 130 (currently at 160)

I'll buy in at those levels

 

[LiveFree79]

The PPT is working overtime. Their game can go on longer than most people think. The question is how long do you think it will be before the rest of the world......i.e. countries not Federal Reserve friendly like China and Russia will take note and quit buying our bonds and propping up our debt? Once they start selling their dollar assets this whole mess will be compounded by 1000.