No Love for financials as Market Sells off 283
So what happened? no love for fannie, freddie, wamu, costco sells off $8 yesterday... lions and tigers what's it all mean? well one could think that - this big ole rally was the beginning of happy days and gleeful views at account statements, but no todays housing numbers once again negative, and a kind of sell the news on the Paulson plan making it thru the house -the markets get slammed. In Bear markets we sell the rallies, thats if your long. -Which were not, -meaning we short the rallies.
watching EXPD/LNY/ -short
JNJ/MCD - Long
that means no trade taken...
waiting for breakout