The purpose of this blog is to retain an electronic diary/archive of key market moving news and events. The morning note includes my personal views on the financial markets and fundamental research pulled from newswires, Bloomberg, First Call, and other market intelligent websites and blogs. The note helps me prepare for the trading day and helps my PM position the porfolio for upcoming events and catalysts.
Wednesday, April 22, 2009
April 22, 2009 Equals September 19, 2008
The price action today reminds me of September 19, 2008, the day the SEC banned risk management/short selling bank stocks. September 19, 2008 was the first time in my life that I did not trust the quotes on my screen because the forced buying clearly created artificial demand(http://wallstreetmorningcall.blogspot.com/2008/09/trading-on-mars-you-are-not-allowed-to.html). Same thing applies today.
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