Quote:
Originally Posted by Smooth Operator
Weren't taking any prisoners on The Street last Friday
Rollercoaster ride sure to continue
No place for the faint-of-heart now
But time is on our side.
Economic expansion down the road
The relentless accumulation of shares continues...  |
The banks are FINALLY admitting/unwinding some of the steep losses they have been hiding. Probably gonna rattle the market for the short term. Ya might be able to pick off BAC in the single digits again soon.
Market is basically range bound now. Probably will go test the 9600 area in The Dow. If that holds will probably head back to 10,400. If it does crack 9600 and stays below there could get real ugly.
The main problem is the banks. They are still in bad shape, which leads them to not lending to the consumer (without consumer spending economy isnt goin anywhere), and not lending to the small businessman. Until they open up and start acting like banks again, economy isnt goin anywhere.