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Meredith Whitney just said exactly what we have been saying.
Brendan P. Byrne
Brendan P. Byrne
huge stock market rally is over for now!
- Thread starter B. Rowshan
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it is only befitting that this giant rally that started on Full Moon was destined to end on Full Moon as well.
http://www.elitetrader.com/vb/showt...=76224&perpage=6&highlight=moon&pagenumber=40
Get ready for a big rally.
I'm beginning to realize ET is a quiet place w/o stock trad3r and port1385.
Although I agree that the banks may take a breather, I can't believe Meredith W's interview with Maria Bartaromo. Yes Meredith predicted on Halloween of '07 that Citi would be in trouble. Anyone who follows the debt market at the time was like 'duh'. The LBO/bridge loans that the banks got stuck with started to become major issues in August '07. I was not that impressed at the time. She went out on her own on Feb 19th of this year. Her first calls were the same doom and gloom. Mar 9th banks bottomed and have ripped, I dont know like 200-300%? Old saying on Wall Street; You are only as good as your last trade.
Talk about sour grapes though. I almost threw up when they started hitting banks because she was huffing and puffing and pouting, saying; "its not fair, I can't value banks because the gov't is intervening. I would have been right if they hadn't come in to help them. How do I value them now? They are not going to make money. I know it, I know it."
I thought she was going to start stomping her feet, or maybe do a backbreaker on Maria that she learned from her husband the pro wrestler. As far as I'm concerned she has lost all credibility, from this interview alone if not her late Feb call.
Great call! I'm sooo pissed. I had measured resistance at 930 but even better resistance at 943. So I waited in vain for the pop further that didn't occur.
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