Friday, February 20, 2009

End of Day 02/20/09

Some guy on CNBC was wondering if this was a capitulation day. Not even close. I saw no panic to the downside, but instead, the market just meandered down calmly. I did see panic to the upside as short sellers liquidated as the White House hinted that it wants banks to remain in private hands - maybe.
P.S. On the 5 minute chart, I wrote that an investor bought BA preferred. I'm referring to Bank of America, which has a ticker symbol "BAC".

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