This market has the distinct feeling of someone having an anxiety attack and falling into a crowd of people. The powers that be are trying to catch him (her?) before (s)he hits his (her?) head on the ground.
Yes, Minyans, we'll have the NYU speech on the 'Ville in short order. I'm pretty sure you've heard most of it before but, as there have been several queries, we're gonna let it fly. Many thanks to our NYU Minyans for their bang-up job.
My eyes keep floating to the banks--JP Morgan (JPM), Bank America (BAC), Citigroup (C)--wondering what's gonna happen when they unleash Mother Nature.
It's prolly better that they're on my restricted list--after 17 years of trading 'em (wow, I'm old), I would prolly be knee deep in risk right now.
I just scanned my screen for green beans in the Red Sea. AIG (AIG)... at $4. National City (NCC)... at $3. Wachovia (WB)... at $3.89. And no, I'm not suggesting that's bullish action--I'm simply marveling at the price points.