Super Strong Volume Today 08-28-08

Wow seems the big boys are in buying hand over fist today.

 

I agree look at the financials i have never seen so much buying before gold man sack 4 reports

 

I just hope they do not decide to unload tomorrow or Tuesday on the first piece of bad news.

One-day reversals have been so frequent lately.

John

 

I don't see any reasons for financials to be so strong today
especially since we constanly hear bad news from financials
I thought gdp is more towards the manufacturing side

 

No joke the CME will be open Monday, and if that hurricane enters the gulf this rally may be just like the Bernake bull run last Friday.

Headlines went like this, BULLS RUN WITH BERNAKE. TODAY ITS BULLS BUY GDP STORY.

Just hope know one tells the bulls it was the tax rebates. They might get smart and figure things out.

 

This is true but you cannot wait for "all clear" sign.

 

Nobody knows what GDP stands for now a days.

John

 

It looks like shorts started to cover financials.

http://bespokeinvest.typepad.com/bespoke/2008/08/nyse-short-inte.html

 

Fre Fnm showing strength. The financials were battered terribly on the expectation that the government was going into them. They will live a bit longer, survive? The bets are still against, but they have some life again.

 

It is not just FNM and FRE. Look at MBI and ABK.