Any potential good news that will support the financials?

I hear people whispering about a potential bottom next week,

and some people even say BAC will reach $8-10 in the next a few weeks.

Before claiming their sayings ridiculous, I want to think carefully myself: are their possible positive news that will support a rally in the financials?

 

There still seems to be too much bullish sentiment, even at long-term low levels. The market "needs" to go lower to wash away that confidence. We'll see. :eek:

 

Instead of making claims, let's make a laundry list of things to think about and watch out.

Let's think hard and make a list.

 

http://www.ritholtz.com/blog/2009/03/geithner-gone-by-june/

Getting rid of Leh and AIG ....also largely gets rid of
credit default swaps....

Getting rid of Geithner by June....who is just there to save GS...

Then let the smart ones cherry pick....remove many of the current mysteries....

 

When will the new CDS clearing house start to run?

 

And the stress test has started,
and when will the results be out?

 

ok, here's a potential

Fast Money

 

Agreed. Any news during that hearing will form a intraday swing. What's the exact time of that?

But the mid-term effect depends on the legal power for the committee. Will they pass a law immediately?

 

question on Mark to Market...are the banks being forced to mark their foreclosed assets to ZERO? or at a ridiculous fire sale price? or retail market price ?

does mark to market mean "mark to zero" if the home is foreclosed and doesn't have a buyer ?

 

What about too much bearishness? Look I'm banging on the SKF and SRS everyday convinced the S&P is going straight to 600, led down by the financials and REITs ... but that's what I hear from everyone else too!

Just the thought that this Thursday's meeting on Mark-to-Market might be a catalyst for a temporary relief rally has me wondering about a potential 'Melt-Up' with legs ... before we once again begin our inevitable descent to S&P 600 ... 500 .. 400.