I woke up in a cold sweat. The schmock has the printing press on churning overnight. He shocks and cuts 100bp next week causing a huge sucker rally to 12,200. In the same dream, all these foreign banks are taking over financials at these prices. Middle Easterns, Asian's. Hostile takeovers and infusions causing another relief rally. The US is getting owned by foreigners. Another credit bubble is forming.... Okay maybe I'm worried cause I went long yesterday and want to make some money on the long end in the next week. I even bought some XLF. I need a financial led rally boys.
Finally timed this FED pump and dump. Hopefully, I can dump my positions on someones fat head into the rally. Not gonna get greedy..... Hopefully they can run this all day.
I all my sell tickets set up. I don't trust this rally as far as I can spit. I may give it some breathing room before I dump. I may let the winners run Bear market rallies are sharp and quick. I am hopeful the rally chasers will take the bait at the open. I am tempted to press it and make a killing though but that will probably backfire on me. I may dump right at open and buy the 1/4 pullback in my financials.
] That's my suggestion. This will NOT be a one day wonder although the morning will find plenty of sellers. Take a look at C. As I posted here last night: Pa(b)st Prime 03-10-08 08:28 PM I also have decent support in the index. I'm going out on a limb here and saying Citi could rally for good from to-morrows open.