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Sorry, didn't see your question re: BF IPO until now.
The short answer is NO, an emphatic no in fact. NONE of the IPO's on the table now look attractive, you'd be buying at market top. Equities have had their best September since 1939 STRICTLY on FED/CB intervention (google FED's POMO activities). This rise contrary to fundamentals (every indicator has turned south BDI, ECRI, GDP, etc) and contrary to TA. It can't and it won't last. And corporate earnings heading into Q4 and 2011 (including BF) are simply not there. Employee cuts and productivity gains can only take you so far.
This is shaping up as the perfect setup for a big bear market in equities. The equities markets have never sustainably rallied as oil breaks the $80/b level. We are trading just under that now in WTI, Brent is nearing $82/b and Asia Tapis is above $85/b. NEVER.
Keep your eye at the heart of darkness (FED) and the countdown to the US mid term elections. After that is caveat emptor.
Just my thoughts, play it any way you see fit and BEST OF LUCK.
The short answer is NO, an emphatic no in fact. NONE of the IPO's on the table now look attractive, you'd be buying at market top. Equities have had their best September since 1939 STRICTLY on FED/CB intervention (google FED's POMO activities). This rise contrary to fundamentals (every indicator has turned south BDI, ECRI, GDP, etc) and contrary to TA. It can't and it won't last. And corporate earnings heading into Q4 and 2011 (including BF) are simply not there. Employee cuts and productivity gains can only take you so far.
This is shaping up as the perfect setup for a big bear market in equities. The equities markets have never sustainably rallied as oil breaks the $80/b level. We are trading just under that now in WTI, Brent is nearing $82/b and Asia Tapis is above $85/b. NEVER.
Keep your eye at the heart of darkness (FED) and the countdown to the US mid term elections. After that is caveat emptor.
Just my thoughts, play it any way you see fit and BEST OF LUCK.
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One more thought.
I don't know if you have been following the latest in the US mortgage market. The issue of who holds title and the legality of hundreds of thousands of foreclosures that have already taken place has come into question by the US Courts. This is huge. The story is just breaking now and I think a lot of people don't realize the implications yet but this can literally be the BLACK SWAN event that takes everything down. Chris Whalen of Institutional Risk Analysis has recently written some great stuff on this. Google it, they are a must read if you are seriously trading these markets.
Good Luck.
I don't know if you have been following the latest in the US mortgage market. The issue of who holds title and the legality of hundreds of thousands of foreclosures that have already taken place has come into question by the US Courts. This is huge. The story is just breaking now and I think a lot of people don't realize the implications yet but this can literally be the BLACK SWAN event that takes everything down. Chris Whalen of Institutional Risk Analysis has recently written some great stuff on this. Google it, they are a must read if you are seriously trading these markets.
Good Luck.
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