Monday, July 13, 2009

Running Ahead Of Goldman Sachs

That's the only thing I can use to describe the action today in the financials.

Short covering in the financials is moving that index up almost 6%. We have seen these type of moves before when these stocks have fallen out of bed. The banks are Tech Stocks circa 2000, heavily shorted and extremely volatile.

Everyone is expecting a huge quarter form Goldman Sachs AKA Death Star. I expect a huge quarter. Only thing is how much of an upside is needed to push this puppy higher?

Will have to wait for the 4Th branch of governments earnings before the open tomorrow.

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