1/21/09
All major banking stocks are rebounding huge today. It is a dead cat bounce on my call that big players covering their shorts. Also, they may unload all shares to you all. It is because government maybe choose to nationalize all banks to solve this huge mess. What it means nationalized is it will eventually wipe out all common shareholder stock value. Yes, be careful on bottom fishing that you may caught on dead fish rather a live fish.
Technically, trend is still in downtrend. Unless I see we have higher highs and higher lows, intermediate term is still in downtrend. Retest lows of 2008 is still in check.
No comments:
Post a Comment