Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Short the bank rallies
Old 07-17-2008, 12:21 PM   #1
Dryer sheet aficionado
 
Join Date: Apr 2008
Posts: 36
Short the bank rallies

Short the bank rallies...BAC should be shorted on strong rallies ....
__________________

__________________
godoftrading is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-17-2008, 01:04 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
What happens if you are wrong?
__________________

__________________
Notmuchlonger is offline   Reply With Quote
Old 07-17-2008, 01:13 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Has god ever replied to one of his threads on here or do we need to wait for the prophets to clarify the aftermath?
__________________
Marquette is offline   Reply With Quote
Old 07-17-2008, 03:00 PM   #4
Full time employment: Posting here.
CitricAcid's Avatar
 
Join Date: May 2008
Posts: 546
Quote:
Originally Posted by Marquette View Post
Has god ever replied to one of his threads on here or do we need to wait for the prophets to clarify the aftermath?
QUIET!!!
Do not upset the God or he will stop revealing his profound wisdom and predictions. What stocks shall I short besides BAC, oh great one. Should I borrow money to short these stocks? Is there any sacrifice that would be acceptable to you besides slaughtering bulls and those who say that oil WILL hit $135.

Changed my AA from 95/5 to 0/0/100(shorting BAC)
__________________
CitricAcid is offline   Reply With Quote
Old 07-17-2008, 07:51 PM   #5
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by Marquette View Post
Has god ever replied to one of his threads on here or do we need to wait for the prophets to clarify the aftermath?
I've added him to my "Ignore God" list.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 07-17-2008, 07:58 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Quote:
Originally Posted by Nords View Post
I've added him to my "Ignore God" list.

But but but what happens if you miss out on the all the sage advice?
__________________
Notmuchlonger is offline   Reply With Quote
Old 07-17-2008, 10:14 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Gosh, I made so much money by betting he was right an Oil couldn't possibly hit $135 a barrel,that I am going to double down and short the financial tomorrow.

I just wish God would speak before the start of trading so that may I follow his words of wisdom and become rich.

I have learned the secret to making a million dollars day-trading, start with a multi-million portfolio and listen to God.
__________________
clifp is offline   Reply With Quote
Old 07-18-2008, 07:11 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
After reading through 40 pages of conference call transcripts on various good quality banks over the last two days, I hope nobody takes Gods word, and shorts banks stocks, at least today.

They are going to open significantly higher cause Citi only loss cough cough 7 billion, which was lower than expected. But that really isn't news.

The news is good banks (i.e. ones that didn't loan 100% to buy homes to liars and lying mortgage brokers.) are making money more or less the old fashion conventional way. Paying people 0% for checking 2-3% for CDs and loaning it out at 5,6,7% for houses and 10-20% for cars and credits card. The spread Net Margin interest for the good banks increased last quarter from around 3.4-3.5% to 3.6%.
It is true that banks are still writing down large amounts of mortgages and home equity loans, but the increase in bad loans and write offs slowed from Q1 to Q2.

With the important exception of BofA most banks have earning which significantly exceed their dividend payments, although the payout ratio is much higher than normal.

Not saying the bear market is over, or financial stocks won't see a pull back. But FWIW I think Tuesday, July 15 will be the low point for most financial stocks if not necessarily for the overall market.
__________________
clifp is offline   Reply With Quote
Old 07-22-2008, 04:31 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Jun 2006
Posts: 1,666
Heh, very glad I didn't listen to GoT and short BAC.
However, if it drops again I will be happy to buy more.
__________________
"We do not inherit the earth from our ancestors, we borrow it from our children.
(Ancient Indian Proverb)"
Zathras is offline   Reply With Quote
Old 07-22-2008, 04:38 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
I guess even BofA made enough money .72 to pay there dividend .64. Although, I'm not thrilled with safety margin and it is the first time BAC has made more than their dividend in several quarters.

I sold about 1/2 my BAC position at $27.50 but bought other banks.last week.
__________________
clifp is offline   Reply With Quote
Old 07-22-2008, 04:42 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Quote:
Originally Posted by Notmuchlonger View Post
But but but what happens if you miss out on the all the sage advice?
I'm pretty sure god can get through a web site ignore list if she really, really wants to.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 07-23-2008, 12:13 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
If he truly is a "god of trading:, why does he ask US for advice??
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 07-23-2008, 12:25 PM   #13
Recycles dryer sheets
Abreutime's Avatar
 
Join Date: Jan 2008
Posts: 323
Quote:
Originally Posted by FinanceDude View Post
If he truly is a "god of trading:, why does he ask US for advice??
To evaluate the vagaries of the masses?
__________________
Abreutime is offline   Reply With Quote
Old 07-23-2008, 12:26 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
It seems he's telling, not asking.

Uh oh, look out...

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
8% Div
Old 09-06-2008, 07:30 AM   #15
Recycles dryer sheets
James5v's Avatar
 
Join Date: Oct 2007
Posts: 88
8% Div

So far I have done okay in owning BAC. I wished I would have bought a lot at 18. There is no talk so far of lowering the Div but if it rallied to where I had a 5 or 6 point profit I probably would sell. I bought at 32.40 a few months ago and as I write it is at 32.23. I bought it mainly for the Div.
__________________
James Otis
James5v is offline   Reply With Quote
Old 09-06-2008, 09:55 AM   #16
Recycles dryer sheets
slouch's Avatar
 
Join Date: Aug 2008
Posts: 152
Quote:
Originally Posted by Nords View Post
I've added him to my "Ignore God" list.
how sad



__________________

__________________
slouch is offline   Reply With Quote
Reply

« TNH | Tma »

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Short plays?? Thoughts... Art G Stock Picking and Market Strategy 47 03-23-2008 05:55 PM
How to short dollar? RedHawk Stock Picking and Market Strategy 1 01-23-2008 11:27 PM
Short Term Investing nuisance FIRE and Money 14 03-03-2006 10:08 PM
Choosing cash/short term bond/bank/cd for low risk money lazyday FIRE and Money 3 10-23-2005 01:49 PM
Corus Bank Short Term CDs on the move again MJ FIRE and Money 8 07-21-2005 05:41 PM

 

 
All times are GMT -6. The time now is 05:13 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.