The Mountains

I love the mountains, I love the rolling hills, I love the praries, I love the dafadills...well...anyway...In the past week the market has certainly climbed a very very high mountain. The rally we experienced was very powerfull. We rallied near 1000 points on the Dow before topping off today. Can you believe in this financial crisis tha JP Morgan Chase for a short time today traded at 30 times earnings! This when most bank stocks are trading in the low teens if not single digit P.E.s. FAZ, a 3X bearish financial etf is looking very very tempting right now. It traded more volume than ever before today and closed with a bullish japanese candle (hammer). Still, a trend this powerfull doesn't just turn on its heels and run without the greed seekers at home watching cnbc buying into the last eeks of the rally. That, plus the fed meeting coming up on wednesday could push this market to retest it's highs tuesday or wednesday before plummeting again. Keep you posted on the FAZ trade.
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