Silliness

Meredith Whitney (bank analyst) mad some comments this afternoon about how she has become quite bearish and that the banks in her opinion are under capitalized. The SPUZ started dropping when she made these comments...they dropped a bit buy nothing major - the bald guy on bubblevision immediately castigated her and "called her out for non rigorous work" - this from a guy who has the "lightning round" and makes his decisions on stocks while throwing bull dolls at the camera in a split second - whatever - make your own decisions. Meredith sells her research to clients - why would she call it any other way than how she sees it - the other party needs advertisers for his website and his TV slot - you know in the Obama America Im kind of afraid to express these thoughts.
I read a story today which I find disconcerting - the SEIU (service employess union) is going to picket in front of Goldmans DC offices that they should give back their bonuses....see this is problematic - people read about Goldmans plan to pay enormous bonuses and people have read the snippets that GS was saved by the government and they feel its unfair - now GS has paid back its TARP investment (we wont talk about any FDIC backed bonds they might have sold) but its always gonna be there - they were saved by the government. When government and capitalism mix this is the result - the SEIU telling them to give back their bonuses "its not fair".
I am afraid that GS will be a victim of its own success - I would not be at all surprised in the future if the SEC starts hounding them, if the stock gets clobbered and they take themselves private - if its broken up into different entities etc.....
I wont even comment how insanely overbought this market is, interestingly today AMZN closed in the red...Turn those machines back on.
Im sticking with my call that today was the top - glutton for punishment.

JB