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February 11th, 2016 at 3:31 pm
CASH!!!/StJ – What a novel idea!
AAPL not helping at all:
GS down $6 is pretty tragic for the Dow too. People are really freaked out about the banks and that's the thing that's making me nervous because if you can get enough people to believe the banks are in trouble, then the banks are in trouble.
Still, GS $6, BA $8, JPM $3 so $17 x 8.5 = 144 of the 236-point drop on those 3. I think the BA thing will be nothing and GS and JPM probably fine (didn't we say that in 2008?) and that means the Dow is dragging everyone down for silly reasons and the big market sell-off puts the Fed on the table and weakens the Dollar so that too can reverse if the markets turn up (still 95.50). Hopefully back over 1,850 tomorrow is +1% across the board into the long weekend (but that's still not enough not to want the new hedges, is it?).