Tuesday, September 16, 2008
"Private Sector Solution for AIG Definitively Dead" - Faber
Reports David Faber. Knee jerk higher on a definitive AIG government backstop is unlikely to take the S&P 500 through 1235 and 1250 resistance so position accordingly. There has been tremendous damage done to the fabric of the US financial system and that will certainly weigh on 2H EPS estimates.