Stocks refuse to correct. They are going higher once again.
The FED statement edges closer to quantitative INFLATION.
We must spend our dollar now or it’s gonna be useless. BUY STOCKS. anything. FED is doing it again.
That’s what the market wants us to do.
Currently, financials are lagging behind in this rally. BAC just rose 2.8% today. However, it is still far behind from the other sectors (especially materials).
The QE2 is killing banks, as they will not be able to make from narrowing spreads.
So, I think BANKing stocks will be a steal, especially if the market becomes disappointed with the QE2 NEWS when it is finally official.
Watching banking stocks. Still LONG Bank of America.
Looking to buy more at $12.50
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