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TranceAddict Investors Club @ Marketocracy (pg. 75)
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| mndeg |
WM is not on the SEC no naked short list, however neither is WB. both reported terrible earnings, WB went up 30% in 2 days WM is down 16.49% today
financials UYG is still up 3.81% today. They used to rally together, HBAN is down today as well. Markets starting to differentiate between banks now. |
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| Krypton |
| quote: | Originally posted by Shakka
Ya think? It's as if the SEC has all but outlawed shorting. (though they haven't, that seems to be the prevailing mentality). And if nobody can short, why bother selling? That means the only direction stocks can go is up up up! So much bull. You can't short financials and you can't buy oil or else you're just an evil person. |
I actually think this is, or is close to, the market bottom. That's my view. |
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| mndeg |
| this isn't close to the market bottom, neither technically nor fundamentally. |
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| Shakka |
| quote: | Originally posted by Krypton
I actually think this is, or is close to, the market bottom. That's my view. |
Time will tell. It's hard for me to believe that it could be the bottom, but that may be all the more reason that it actually could be. I'm skeptical but have significantly pulled in exposure to be safe. |
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| Krypton |
| quote: | Originally posted by Shakka
Time will tell. It's hard for me to believe that it could be the bottom, but that may be all the more reason that it actually could be. I'm skeptical but have significantly pulled in exposure to be safe. |
I'm going along the lines of, "Be scared when everyone is greedy. Be greedy when everyone is scared." I significantly increased my exposure as of this week. |
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| mndeg |
most people are greedy right now. i think financials went up 70% in 4 days. hardly a contrarian position.
amazon was actually a MISS instead of double earnings! wow |
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| Krypton |
| quote: | Originally posted by mndeg
most people are greedy right now. i think financials went up 70% in 4 days. hardly a contrarian position.
amazon was actually a MISS instead of double earnings! wow |
It's my view that the rally are the bears covering their shorts. |
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| Krypton |
Shakka, where's your fund!? |
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| Dervish |
Doing ok with RBS myself, bottled ditching some then buying in a drop. Which "cost" me about $4000 (at this point a bit more soon). But aside from that I think this is no longer a falling knife and 145 was the bottom (my bottled trade would have sold at 180 and bought at 150 :().
I see £3+ within 3-4 months easy from £2.20ish today. Will sink with profit taking tomorrow I'd suspect maybe down to 2.05 at points but will rally later in the day. |
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| Shakka |
| quote: | Originally posted by Krypton
Shakka, where's your fund!? |
lol--I don't have one in this thread b/c I spend every waking hour helping to manage a real one! |
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| mndeg |
i'd like to say that every bank made a ton of money by betting on the rise of commodities thus raising the price.
and we're using tax dollars to prop them up.
and this might be the reason for the drop down in oil http://www.nakedcapitalism.com/ |
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| Groundhog Boy |
So who thinks that the Ag, Energy, and Steel sectors topped out?
I'm still holding MTL (2nd worst drop in the sector behind AK Steel because of Russian govt. intervention) and 2 of the big ag names and I feel violated lately.
Any thoughts on taking a loss on one of the Ags and picking up CHK down where it is? Aubrey bought more last Friday and it's down almost $8 since. Historically, this doesn't usually happen on his big buys.
As an aside, I'm fairly pissed about the US govt. intervention with the financials. Just great that FRE has tripled in less than 10 trading days and FNM has more than doubled. Everyone sucked their money out of the sectors that have been providing returns and dumped them into the holes that helped cause this whole mess. True reward for good behavior. Doesn't help that I'm kicking myself since I was close to picking up BAC or C down where they were a few weeks ago when I dumped more into my account. Not now... |
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