It was just a couple of months ago that Financial companies were doomed with so many toxic assets on their balance sheet and now all of a sudden every other company is reporting great earnings - difference you say? .. Thanks to Mark-to-market accounting rule change... Now, who knows what these companies are hiding on their balance sheets and yet make it look like all is fine and great... I can't wait to see earnings from Citigroup & BAC tomorrow and I won't be surprised if they report great earnings (did I say Citi reporting great numbers?). It is only a matter of time when all of this propped-up market (dare I say another bubble) really bursts - it may be 1 month away or a decade away - timing is key and unpredictable! Oh these are some great times I will remember when I grow old...hopefully I will survive to see that day! So, tomorrow is Friday and that is a great news!!! TGIF!!! I just didn't want to end this post on a serious note.
Later....
PS: Look at FDX, WHR - they are breaking out like bad economy is nobody's business!! Consumer staples are getting love, look at XLP, PG,JNJ, KMB, CL, GIS, CLX, KO, PEP - they all are breaking out like crazy! $NDX is breaking out! I guess this is somewhat ominous sign that the money is rotating into Consumer Staples.... somethings gotta give really soon!
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