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Wednesday Morning, 3 a.m.

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

I find it kind of bizarre that the reason du jour for bidding this market to infinity is yet another “stimulus” package. To me, it’s kind of like theta burn; the closer we get to election day, the smaller the chances of the political process conjuring up such a package (because, let’s face it, the package is nothing more than a blatant bribe for votes). As with theta burn, the rate of decay will increase as we approach November 3rd. For crying out loud, there are only 20 days left; do you honestly think the two sides, which hate each other’s guts, are going to make peace and throw trillions of dollars in bribes toward the public? I don’t.

Liquidity moves markets!

Follow the money. Find the profits! 

In any case, the market is sure acting like it will. Here are some key earnings tumbling out before the open tomorrow. A couple of them are the boring, always-go-up, no-matter-what variety………

The scandal-plagued Wells Fargo is on deck; they are resting precisely on their long-term trendline.

The rest of them all look quite vulnerable. I find it especially interesting to watch these, because JP Morgan had oh-my-God blowout earnings today, and they got absolutely kicked in the balls. Anyway, here are the rest:

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