I am listening to Cramer speak right now on CNBC, and I think it epitomized the tug-of-war the bigboys currently face.
No one wants to own banks, and Cramer open the show with the premise. Then David Faber breaks down the numbers, and things don't look as bad. (The greater hit was due primarily from mark-to-market pricing.) Once Cramer heard it, he instinctively state, "its cheap here". (Melissa Lee calls him out on his flipping, and he sticks to the "don't own thesis".)
The above is from the start-to-the 4:20min mark.
This is how bottoms are formed.
echotoa <-- that's what i was looking forReplyDelete