FDIC is forcing banks to disclose or sell bad assets we should get a taste of this from JPM and BAC this week. They will hold back most but will disclose a glimpse of the hidden crap from the last two years.
And it's OPEX. The banks will wail away on us stupid bastards till at least next week unless the volume gets carried away on the back of real banks numbers...but why would banks start telling the truth now? See how quieted those questions about LEH debt on the books got when other banks were asked if they do the same thing?
UBS is not in on the scam. They were not at the Obama meetings where they all talked about buying the REITS in each others banks holdings because there is no other way to keep them from redemptions and how the PPT will manage the futures and bring the indexes back from drops like the one that started this morning. By now, it works so well, the banks just keep it up. Nobody told UBS and the US banks want to screw them over anyway.
OK DK you know 9 bear ETFs are having reverse splits this week right? It spooked any left in them. So today we had capitulation selling in BEAR ETFs. Might continue a lil tomorrow but should only be considered a buying opp.
Mack I get it... what I don't understand is today's action... when the regionals were downgraded this morning based on their exposure to RE/CRE that should have at least kept things still... instead they blow out the reits "again"... now clearly this could be an exhaustion rally, but I'm blown away nonetheless...