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Monday, March 29, 2010


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Yelnick, one index that has been in the red all day is the BKX. Hm.

The financials started the mess, may they as well end it?

Question to you since you operate in financial circles. Is there trouble brewing in Europe? The debt problems have been a bit pooh poohed, yet to me they seem to be spreading. And the ole dollah would not strengthen like it has without some fundamental basis.

By the way the BKX imo is an Ellioticians challenge.




C has the second largest market capitalization in the BKX and it is down over 3% on the news that BHO and Company will sell its stake sometime this year. This is probably the main reason for the weakness in the BKX.


nspolar, yes, Europe is a ship of state looking for an iceberg. the drop in the Euro reflects this. also the European banks are in much deeper doo doo than US banks. how fast this shipwreck unfolds is unclear. many thought the resetting of optionARMs would sink many Euro banks, but the WSJ reports this morning that even though 3 out of 4 optionARMs are underwater (more debt than value in house), the banks are not foreclosing but trying to work something out.


Stupid Yelnick, I have a higher probablity trade, yelnick website has topped out, and downtrend has started.

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