Perhaps many of you begrudging the rally for not including your positions in the pump don’t understand the message sent today. It came from the sharp tongue of a bankster. Staring out the window, his eyes gazing at the simple populous thousands of feet below, he said clearly into the phone, “Ga’head.” And what is now history was the markets’ resounding roar of acceptance. The markets traded today with elegance. Instead of a gap-up-leave-you-at-the-station mess, we opened on our hammers, let all the good traders position, then ripped.
Sure I wanted YELP to appreciate at alarming rates today like the rest of the market. Indeed a 10% appreciation in ZNGA would have been welcomed (such a homo stock). Instead those fuckers traded like a wet bologna sandwich at a picnic. The same could be said about several sectors and stocks, but know this: financials are the largest god damned rocket you can strap to the market. Put on your fucking space helmets and believe me when I tell you a sustained move in financials means bulls can advance with pomp. Otherwise continue to lament your super soaked panini.
If we are truly seeing the beginning of a sustained move higher there is no better liaison than USA #1 banks. They have the guns, germs, and steel. They win, we all win. Capice?
Banks…God I hate’em.
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Spoken like a boss.
Absolutely.
Look at the chart of $XLF from December 2011 until March 2012. (recent) Outperformance by financials seems to provide a serious tailwind for the market. This is especially true for momentum stocks.
That opening paragraph is great.