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Direxion Daily Financial Bear 3X ETF Message Board

  • traderutah traderutah Jul 8, 2011 11:35 AM Flag

    FAZ should be $500 ...

    to this day most people still don't believe that the banks are being allowed to hold two sets of books. The one with all the toxic assets on them, and the ones without them. But the fact is the FASB has allowed it. Their stock price/earnings are based of course on the ones without them. So, how do you know the company that reports next Wednesday, is really telling the truth? Frankly you don't. So when they say GS or C or BAC or JPM made a profit ... it's a LIE, SCAM, FRAUD.

    Now pay attention to this because it's important. During the last earnings releases, more companies saw their revenues fall than rise. But not only that, if we strip away the things we know of, like currency swaps, tax breaks, "one time charges" etc, true earnings per share would be down almost 40% across the spectrum. That's how much of our recent earnings are "manufactured".

    So, next week, when earnings season starts in full, pay attention to this and take note. Falling revenue on rising earnings CAN NOT LAST forever. Got all that? Good.

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