SPDR S&P 500 (SPY): hey 2-bit, take a look at chart 5.6, not...

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Re: 2bit-nothing post# 89068

Friday, 10/09/2009 11:37:20 PM

Friday, October 09, 2009 11:37:20 PM

hey 2-bit, take a look at chart 5.6, notice bkx, has not even made a 38% retrace yet....and momentum as you suggest is still not in favor of much more to the upside...

i have a feeling that banks will report decent earnings, but will warn that they will be incurring losses in the next quarter due to defaults on loans and actually reporting all the foreclosures that they have on there books...just a hypothesis.

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