Well I'm a liberal, though not a Democrat. I consider Obama a Republican actually, as he seems in lockstop with their every want. But I don't think "we" defeated communism, I think the communists defeated themselves for the same exact reasons we may follow suit: corruption!
I think the question is what happens when a BofA falls as it seems imminent. Citibank, the flower of money laundering around the world, ought to fall as well for lots of reasons. I do wonder what happens if they do. I don't see it as a big deal compared to continuing funneling money into that trough.
The press...CBS MSNBC CBNC NBC ABC....All liberals..And the folks at CNBC get paid their bonus in GE stock, or now Comcast stock. They are never bearish.
But I read Zero Hedge and I didn't see any reference to Fed buying stocks. In the past they have used proxies to buy S&P futures, but it is a moot point.
Accrued interest does not take weekends off and the debt is strangling the world. Great..We defeat Socialistic Russia, the Middle East is erupting, the socialistic framework of Europe is coming apart at the seams and we are experimenting with socialism here..We can't afford it.
See the report last week that home prices have fallen to 2003 levels. The largest industry in the 50 states is home building. I do not think the liquidation has started and I do think B of A ( the holding company ) is broke.
Supposedly, they bought indexes across the board, which you can extrapolate from the market easily. I doubt hedge funds initiated those trades, or banks. In this day and age, when Congress can now legally trade on insider information, I am guessing you can find lots of lawyers who will tell you how to do a work-around. Google has some reports, but I heard a radio show explaining this, but can't find the transcript. It depends on the meaning of "is" when it comes to our multi-tiered justice system, and for whom something is legal.
Not sure if the lack of response to the jobs report is further evidence that PKT is untied from general market conditions, or that the market isn't impressed by jobs report? I guess Wednesday's Fed shot is the last arrow in their quiver, so now it's a waiting game. It does seem that we are holding strong with few shares switching hands. I'm looking to add to my position, but may not see the $14's again this year. I have moved many of my positions to cash, and expect a bank failure should open another fire sale in general market. Can't believe people are holding bank stocks.
Banks are the huge gainers today, go figure. The FXE is down and a rumor that Israel bombed a nuclear facility in Iran, it is not true with what is known by the media. PKT is in a continuation pattern of a strong breakout and well within the established channel that has formed recently and is more sustainable than the more straight up line we had there for a while. Other than that it is Friday after all but a great week.