Well, the new short-term uptrend is definitely getting interrupted. Still huge potential for both sides. Boats are being loaded both long and short here. If the stuff breaks away from here a retest of the lows (or something in that general direction) is quite likely. Just look at where the bodies are (going to be) buried. And like I said, it's generally (though not always of course) not a good idea to buy the rally after an above-average drop unless you have no problems if it goes all the way back down. Here's a chart for your amusement: http://www.sierrachart.com/userimages/upload_2/1300712065420.png
Good post. JP Morgan announced a 500% hike in its dividend (from 5 cents to 25 cents/share). Goldman is buying out Buffett's $5 billion stake, and Citi just announced it will pay a dividend after a 10 for 1 reverse stock split on May 6th, so institutions will now buy in droves given that it will trade above $5. Too bad for the HFTs who made their living trading C, they'll soon have to pony up 10x the amount if they want to keep trading same size, or move on to a different stock. I agree with your analysis. The financials are still a large part of the S&P, and if the banks rally, the bears won't win, for now!
wow!!!...the "SOAR" is right on target...wondering if the home sales news in about 9 minutes will cause the bears to rush in like smelling poptarts at a campsite...
Wow...FirePlace and TheMan would show up if I was trading cookies for donuts at the corner of 45th and Main...wowsers
Inks McGinks, you obviously want attention since you post calls like this on a trading website. If you don't want people commenting on your calls, then just keep them to yourself PS Didn't I say 'nice work'? What, you don't like praise??
Inky, would you mind sharing when you bought and when you sold to capture this 'HUGE day UP'? Or are you still holding??