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Member since: Jan 08

SHORT THE FINANCIALS!!!!!!!

Can anyone give me one reason not to short the financials? 

When in doubt, trust the one sure thing... our banks will be reporting losses into Q2 of 2008.  There is instability in this market and none of the traders have any belief in this sector rebounding anytime soon.  Make a quick buck and put a short position in...

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Posted by KnowITall on 03/07/08 at 06:26 AM

Tag It | 1 user tagged it: MER, JPM, LEH, UBS, GS

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Will Profit

Member since: Mar 07

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Unemployed pearl and sponge diver in south central Texas. This leaves me quite a bit of time for marathon poker games and binge drinking.
Age: 40's
Xerox (which by coincidence is my astrological sign),, The great Republic of Texas UNITED STATES
Will Profit
I really like puts on XLF.
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WallStreetKing

Member since: Mar 07

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WallStreetKing

I can give one very good reason not to short banks.

all banks charge a fee to utilize there service. !! for profit.

looking at the coin mint there about us portion.

The United States Mint receives more than $1 billion in annual revenues. As a self-funded agency, the United States Mint turns revenues beyond its operating expenses over to the General Fund of the Treasury.

So NO I personally would not short the BANKS. Short term losses maybe, but it will be quick.

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snowman

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snowman
I got burned shorting BAC at 49 with 6 month puts. I got to the party and no one was there so I went home. Yes if I held on to them I would have made a killing. The only problem with arriving to a party late is a drunk might run you over.
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locogmac

Member since: Sep 06

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locogmac
I've been thinking about shorting the financials a lot, but it usually is that when inidivuals who usually don't short start getting into the game of shorting or are finally comfortable with going short, they are usually at the last leg of the downfall and its ready to reverse. Just my thought.
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phantomx

Member since: Feb 08

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lnternational Digital Media publisher
Age: 40's
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phantomx

Well I don't know too much about how they do things on Wall Street. I heard Mr. Warren Buffet was like the money God. And so I'm all ears when he speak. I think even a novice in strategy should first make a cautious assessment of his own position in margin contract, business ethics and debt related consequences that could ultimately take shorts in called-out stock and extend elongated liens that could split the Saudi Arabian pipeline parallel and treat the full figure like half paid interest on the original principal. . .: { Literati X }. . .   

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Will Profit

Member since: Mar 07

Trades Not Shared
Trade Notes 77
Blog Posts 229
Unemployed pearl and sponge diver in south central Texas. This leaves me quite a bit of time for marathon poker games and binge drinking.
Age: 40's
Xerox (which by coincidence is my astrological sign),, The great Republic of Texas UNITED STATES
Will Profit
phantomx, You lost me at the word "well." I do understand how they do things on Wall Street. They do it the same way it is done in Vegas. They want to take my money, any way they can. I trade with the sole intention of making money. If I screened all of my trades for personal moral implications, I would reject each of them, because there is not any "clean" money on the street. There is a skeleton in every corporate closet. If your going to swim with sharks you better be a shark. Otherwise why trade at all?
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Doji

Member since: Mar 08

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Doji
I agree, Will.  Every time there is a steep downturn, they put a few heads on the pike to assure all us peons that Wall Street has been cleaned up.  I for one am so glad they nailed Martha Stewart last time around.  Saved us all from the faux pas of bad decor for a few months.
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Will Profit

Member since: Mar 07

Trades Not Shared
Trade Notes 77
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Unemployed pearl and sponge diver in south central Texas. This leaves me quite a bit of time for marathon poker games and binge drinking.
Age: 40's
Xerox (which by coincidence is my astrological sign),, The great Republic of Texas UNITED STATES
Will Profit
Yeah, but my wife went into mourning and I had to eat store bought cookies until Martha was sprung.
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KnowITall

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kudos to those who took my advice!