Anyone surprised at today's action in the banks and the brokers?
Did anyone think that Bernanke wouldn't have something up his sleeve, on a Fed meeting on option expiration?
Especially with the President, being on Jay Leno tomorrow night?
I guess someone did. They sold the financials.
Oh that's right. The high priestess of finance, Meredith Whitney, said you should sell them yesterday.
God forbid, if you have an opinion contrary to her. It would be like a Catholic criticizing Mother Theresa!
But that wasn't the opinion here.
Nor was it my opinion last night!
Today the Nasdaq rallied, and tomorrow, on cue, the banks and brokers will fly. They'll just use the excuse of the Fed meeting to run in more shorts. Why do you think they covered at the close today?
These jokers were pretending that the market was weak yesterday. They tried to make the charts look weak.
Instead their hand got weaker!