Markets Scream Higher, Bank Stocks On Fire

Thanks Vik!

After Pandit’s memo about Citigroup (C) being profitable through the first two months of the year, bank stocks are on an absolute tear. Citi’s up 25% (just to $1.32),  Bank of America (BAC) is up 20% 27%, and JP Morgan is up 13% 16%. Even GE (GE) is above $8.50.

Is this the shorts, who have been shooting fish day after day, finally getting a massive squeeze?

Overall, the indices are each up well over 3%. up between 5-6%

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