Bank earnings are out and there is nothing to write home about. STI which I shorted most of yesterday is up a bit. STI sold their KO position to raise cash, they’ve owned that position forever. MER selling Bloomberg stake too. When the banks start looking in the attic for “things to sell” because things are so bad it has a tendency to scare the crap out of me. I think Citibank has some lawn furniture going today, the sale starts around 10 am over on Third Ave.

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