Sunday, July 20, 2008

Bears Waiting


Although a decent rally has occurred, the bank and financial stories will be back since it is hard currency to the bears. Without the fees of M&A, Sub-Prime, and the willing buying a bull market brings, brokerage and hedge have their best interests in the downside. So after the current pricing and short covering runs through July, the shadows will reappear. The old pit adage of ' never buy the first rally ' may be the bear's best ally.