torsdag 17 februari 2011

Uppgivna baissare

Är det bara jag som tycker att den här typen av jag-ger-upp-och-köper-kommentarer är negativa?
The detail in the banks sector is now irrelevent. The animal spirits of the market have decided the sector is going up. A number of clients have told me its a wood for the trees situation...dont get bogged down in the detail, just acknowledge in the grand scheme of things its still a lowly valued underweighted sector where the newsflow and sentiment is clearly improving.
We thought Barc results were a bit weak..the shares went up. We've tried to call Italian banks down on a v technical argument that cost of funding increases are counterbalancing the good news on NII....they're up 5% this week. We thought SocGen headlines were good but the detail was weak...up 6% yesterday. Lets see what happens with BNP where again the analyst call is "a bit light"      (FYI: upp 1,3% idag)                                                                                        

1 kommentar:

Anonym sa...

Jag känner igen det från år 2000. Från oktober 1999 och framåt hade alla som ropat på vargen gett upp. Ingen vågade annat än hänga på uppåt. “Den nya ekonomin“ osv.