Replies to post #616296 on Zeev's Turnips Patch-No Politics (ZEEV)

[EBAYaim]

The bottom will come



...usually when one least expects it.....and usually lower than one can expect.....My Guess is 5555 (Golden ratio) has to be somewhat close?

[cash2go]

FAZ red in a red market, highly unusual

The character of the market is changing. FAZ is triple short the financials and no doubt reflects Thursday's review of mark to market. Adjustments are likely, too many financials are insolvent and need a deal ASAP.

Long FAS.
I expect legislation friendly to financials as the nation doesn't want more toxic debt of bad banks added to the national bill so soon. Not saying fundamentally anything changes. And, the bad bills will come due later rather than sooner.