Tuesday, June 12, 2007
Sector Spotlight: Financials
Thanks to the bond assholes, we are heading lower. Basically, the temporary shift in the 2, 10 & 30 year yields has killed the rally. With that being said, "The Fly" feels like throwing bowling balls down Wall Street, in order to hit a few of those "bond-tards."
Suddenly, my appetite for stocks has gone away. Instead, I have decided to plan a vacation or look for a new car.
Nonetheless, the Financials are doing ok, on the back of LEH's blow out number. Other stocks in the space with momentum include: ITG, NITE, COWN, BLK and OPY. Everything else is going to hell in a hand basket.
In short, avoid bottom fishing today. I sense we are in for one fucked up trading session, with heavy losses across the board.
Suddenly, my appetite for stocks has gone away. Instead, I have decided to plan a vacation or look for a new car.
Nonetheless, the Financials are doing ok, on the back of LEH's blow out number. Other stocks in the space with momentum include: ITG, NITE, COWN, BLK and OPY. Everything else is going to hell in a hand basket.
In short, avoid bottom fishing today. I sense we are in for one fucked up trading session, with heavy losses across the board.
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NYSE decliners leading advancing issues by 5 to 1.
So far, 15 new highs 76 new lows.
Looks like the beartards may get some satisfaction today.
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So far, 15 new highs 76 new lows.
Looks like the beartards may get some satisfaction today.
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