If you are a contrarian it's time to buy. Everyone thinks that the market will tank this week. Short term, BB&T will follow the market. Old Kelly will use his reserved billions to meet the street profit expectations for the third quarter. When the market turns up, BB&T WILL participate. You can take that to the bank!!!
Happen to agree with you boat. And now the US government has a $196 billion lawsuit against 17 of the largest banks. I believe that the market will continue to tank till the bank problem is fixed. Have no idea how to do that. Is anyone buying tomorrow??
The German courts may find bailing out other countries unconstitutional. Think that could affect the markets? The Italian parliament is supposed to vote on new austerity programs, but they seem to be backing away (I read some where up to 1000 amendments). Think that could affect the markets?
Then there is Barry's speech. He'd better turn water into wine or the markets could tank. To be honest I expect more of the smale ole, same ole and the markests probably won't like that.
These are the known unknowns. Then there is the unknown unknowns. The markets could be down 6-7% unless everything goes right next week. What are the chances of that?