IT'S PANIC TIME (MER, rated SELL)
Posted on October 09, 2007 at 19:57 PM EDT
CHECK OUT THESE BOND RATES: 3 MONTH: today 3.88% yesterday 3.85% last week 3.81% last month 3.89% 5 YEAR today 4.37% yesterday 4.33% last week 4.19% last month 4.03% 10 YEAR today 4.65% yesterday 4.64% last week 4.52% last month 4.38% That's right folk. You have been lied to today. While the market was cheering and encouraging you to buy because rates were "dropping" the cost to borrow money just ran up after the Fed Minutes were reviewed by the real profesionals. So who are you gonna believe? The banks trading the bonds, or the clowns trading the banks? Stop reading the BS media is telling and read the actual fed minutes. I have them on my blog. Last time we had these notes. I told you we were gonna have a rate cut when everyone else said i was wrong. I bought TOL and won. The smart money is now shorting the banks like BAC and C and finacial institutions like MER, AXP, DFS, and WM.
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