Monday, July 14, 2008

Monday Morning Psychology Reaffirmed

"POTC stands by our sentiment since last Thursday... a bear market rally of staggering proportions is upon us. Although you will still hear many doubters on CNBC throughout the day, please understand the power of politics and the Treasury."

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4 comments:

Anonymous said...

seems that the market is still underperforming and did not go up for Monday.

StockWatcher said...

That rally you talk about seems more and more distant. Is there light at the end of the tunnel or is this just a dark endless cave?

StockWatcher said...

Has the Island drowned in the flood of pessimism? :(

The Call Team said...

The shorts have the best of both worlds; extreme pessimism around the larger, 'pretty' sound banks has enabled them to cover without panic, something we did not foresee. We recommend reviewing the "Four Scenarios", which center around oil, and with bad economic statistics today (retail and inflation), we are at scenario #1. Our targets of 1,190 on the S&P and 2,150 on the Nasdaq look to be in danger. We are recommending buying puts on GRMN, as we see competitive pressures building in a very unfriendly consumer environment. GRMN could be at $25 in August after they report earnings around July 30th.