kaltbaum premarket

You know I am a cynic. Wall Street has earned it. No indictments…banks taking bad loans off books before earnings and putting them back on after…printing of money…analysts still shaky…

 

Today…upgrade of BAC…JPM gets fed approval to resume buybacks…that’s this morning…the day after the financials finally break the 50 day. Do you think these people are technicians? Kinda sorta suspicious timing.

 

On top of that, we are getting a bunch of AAPL selloff overdone…with one analyst becoming a technician saying it will rally up to 620 because it is oversold and that’s where resisitance is. That’s wall street’s hard work.

 

Futures are up a wee bit…and after yesterday, a bounce should occur…but as of this second, it is just that. Nothing to do this second except sell KORS if it breaks the 50 day…and probably will sell before earnings anyhow. Even though the stock is a rock and numbers are great, not the kind of environment right now…and if market worsens, they usually get everything.