Market Recap: The Banks!!!

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The Reformed Broker, AKA Nouriel Houdini, here with today’s Market Recap…

The news hit this morning that Bank of America (BAC) needs another $35 billion to remain solvent…so how did the market react?

We took the money center banks through the f@ckin’ roof!

Here’s the 3 o’clock look at the sector:

The bulls rebelled against logic and the bears had the train tracks over their backs to prove it.

The broad market rally eased up a bit in the last hour of trading, but for the most part, fireworks went off everywhere all day.

I’m not 100% sure, but I may have seen Nouriel muttering to himself on a bench in Bryant Park this afternoon.

We got a raft of Nat Gas company earnings this AM, but the earnings front tonight is pretty quiet this evening.

Thanks for reading today and check in tomorrow for a special treat.  In the meantime, enjoy the Arcade Fire doing Rebellion (Lies) live on Letterman.

Full Disclosure: I am currently long Wells Fargo (WFC) for customer and personal accounts