Without a Doubt a Sign of the Reverse Top

by Johnny Debacle

You're either Whitney or against meOr, as some folk like to say, the bottom. Meredith Whitney is leaving Oppenheimer to start her own firm, Meredith Whitney Advisor Group LLC, that will be an advisory shop, providing equity research for institutional clients. I feel pretty bad for Oppenheimer (NYSE: OPY), but I feel pretty great for the stock market, especially financial stocks. Is there a sliver of hope that the worst is already incorporated into their share prices?

Recommendation: Her calls were fantastic, and we are not ones of those who would seek to take away even an ounce of the awesomness which she has demonstrated over the last 18 months. I’m not trying to get too contrarian here, but COME ON. This is too obvious, it must be a bottom. We will have definitive confirmation of a bottom when Nouriel Roubini rebrands RGE with a name like Dr. Doom’s Latverian Party Palace Associates.

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