Tuesday, September 28, 2010
What if shortsellers played football instead of touting stocks and the economy down??
Here's what they would do. They would look for some macro point in the economy in the United States, and then, use that to pick stocks, disregarding the fact that we live in a world economy. So maybe, they could look at Las Vegas, and see that taxable sales rose 5.3% last month, for the best performance in years, and then, say that Vegas might be a buy.
But of course, they might ponder that point now, but never when the stocks where under $2.
Which is the difference between this blog and Wall Street.
Remember when the Imperial rating agencies downgraded the debt of LVS. When the stock was $1.77? You got the buy recomendation on the stock then! Back on March 13, 2009.
You got the buy recomendation on LVS (1.77) yesterday. Their debt was downgraded again by the imperial rating agencies, run by these kids with spreadsheets!
Now the rating agencies are looking at their debt with a rosier outlook. But this time, you can even buy the improved outlook, because Wall Street now even needs to make the idiots look bright, because they need the public back.
So now, in LVS we should start getting the moves that make the public excited.
With the higher price providing the caffeine!!
Posted by Palmoni at 8:59 AM