Midweek Smeagol Reading
In a note yesterday morning to members, we were looking for an oversold rally, and said rally still has yet to materialize in any big way. We still think the S&P will close the week closer to 1300 than to 1250, but that’s a conviction loosely held. The two biggest questions on our minds for the remainder of the week are: Will the financials stop dragging everybody down? $BIX, $BKX, XLF all had a good day today, but they…
Wednesday, August 20, 2008
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