Wall Street Manna
An irreverent look at Wall Street
Tuesday, November 16, 2010
Where are the dip buyers?
Two weeks ago, everyone was scrambling to buy--and this week everyone is scrambling to sell. We're down 6 out of 7 days--Don't you think that some of you portfolio managers should start nibbling here?
Or is everyone and their mother trying to front run Falcone's sales?
Newsflash--He doesn't own that much that is liquid!!
Dow down 100, and at S&P 1186--well you need to start to nibble now. Resistance is 1166--and I don't think this market is going to be that accommodative!!
I suppose though--now that we are hearing all these stories that we are heading into deep sh*t that we should be alarmed.
Unless of course, it just bullsh*t!
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