I posted on yahoo Well Fargo Stock board that the more I thought about the banks upgrading the more I felt it was a skim for the banks to upgrading each other so that they all can make money underwriting billions of new banking shares. There are still more to come after WFC and USB so they have to pump the market to finish their job. Once they are done they may manipulate the market downward. The recent bank rally and upgrade just show how easy the stock market can be manipulated. The government tries to manipulate it. Investment banks try to manipulate it. Big investors try to manipulate it.
Reply has it that event if what I say is true what chance do I have trying to fight the tide. I think no matter how irrational the market is it can not derail too far from reality isn’t it? I know I was wrong on taking a huge short position just two weeks ago. Now I am really tamped to fight the tide again. I really shouldn’t take more short position to make the same mistake again.
I think I should just wait and see how my current short position turns out to be at the end of this week.
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