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The Markets do not believe you Mr.Cowen

 

 

Bank of Ireland [IRE  3.61    -0.14  (-3.73%)   ]
: Stay away from IRE, Cramer said. He

likened it to
National Bank of Greece
[NBG  2.23    -0.03  (-1.33%)   ]
and
Allied Irish Bank
[AIB  2.17    -0.06  (-2.69%)   ]
and said all of them “bad banks” that need
to reconstitute their balance sheets, “which means potential dilution for shareholders.”

 


Latest news is that Cramer is not a fan of any of the Irish Banks.

Bank of Ireland (IRE) and the Allied Irish Banks (AIB)

According to Cramer the Irish banks are like the National Bank of Greece so much for turning corners

Allowing Gangsters run Banks is one thing but allowing Gangsters to run a country is just unforgivable

Cowen and Lenihan must go!

Quarterly Market Brief & Stock Pick from Wealthbuilder.ie

Wealthbuilder.ie

On the 21st. May we wrote the following:

“Due to lower highs and lower lows on both the Dow Industrials and Dow Transports there is

now a change of trend in existence in the markets. How long this correction will continue no

one can be sure. A bounce can be expected at any time due to the fact that the market is

terribly oversold based on Stochastics and the McClennan Summation Index. However, I do

not think we have seen support lows in place yet. What is the reason for this capitulation? As

mentioned in my last brief I believed the “flash crash” of the 6th. May mortally wounded all

indices from a technical pointy of view. It will take some time, probably the whole summer,

before some degree of confidence is restored.”

full report in PDF here Wealthbuilder_Quarterly_Brief

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