Mirror images so far - big down day to start followed by breathless buying of futures and beta stocks. That rally mode continued almost all of September and it appears to me that players believe that will happen again in October. The futures wont back off one iota here today - permabid is back. AIG, C, cruising - algos in charge.
Goldman says banks look good - well yeah of course they do, no mark to market, zero percent money from the government and an extremely steep yield curve - WOWIE!
we had almost 10% unemployment on friday - we have an almost nuclear Iran, a crashing dollar.....good stuff.
JB
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