“We’re Rock Solid”

The CEO of Deutsche Bank (DB) came out today and said “we’re rock solid.”


Alan Schwartz at Bear Stearns said the same thing to his traders and to the public two days before Bear Stearns went bankrupt.

Yesterday Barclays (BCS) actually stopped trading for a spell because it was getting hit so hard.  Yep, they’re rock solid. The shorts are dancing naked and inhaling goblets of fine red wine.  The remaining longs in these names are on hold with the suicide hotline.

Who knows where this all settles, but something’s up and I’d rather jam rusty nails in my eyes than be long anything here.

In the meantime we stay light on our toes over here and stay short until the worm decides to turn.  It always does, but this time it will be only for a “trade”. The landscape has changed are rallies will need to sold this year.

We continue to outperform this mess and its a good time for you to become a member. Actually its probably the best time in seven years for you to become a member.

Member performance for February so far is here.

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