2/4/09Technical Traders are all winners since New Year Begun. Again, Bearish Reversal Candlestick pattern just appeared shy below moving average. How obvious to us as chartists to notice ahead of time!! Market gave back most of yesterday gain because Bank of America(BAC, another crap) was sky diving below $5 mark today. Where is the low?! I do not know. However, it is tossed as same as Citibank(C, another garbage). There are tons of financials and banking stocks are going to my call range $1-$3 soon if government do not have sounding plan to rescue it. Bad Bank/Good Bank will not help at all. There are only one solution to tackle the problem. Nationlized the all troubled banks. Yes, there are insolvent. No matter what you do, it does not change their fundamental. It needs to change their fundamental in order to keep floating around. Well, again good luck if you feel confidence to invest any troubled bank stocks.
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