Short the bank rallies

godoftrading · 07-17-2008, 12:21 PM

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

Notmuchlonger · 07-17-2008, 01:04 PM

What happens if you are wrong?

Marquette · 07-17-2008, 01:13 PM

Has god ever replied to one of his threads on here or do we need to wait for the prophets to clarify the aftermath?

CitricAcid · 07-17-2008, 03:00 PM

Quote:

Originally Posted by Marquette

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)

Nords · 07-17-2008, 07:51 PM

Quote:

Originally Posted by Marquette

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.

Notmuchlonger · 07-17-2008, 07:58 PM

Quote:

Originally Posted by Nords

I've added him to my "Ignore God" list.

But but but what happens if you miss out on the all the sage advice?

clifp · 07-17-2008, 10:14 PM

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 · 07-18-2008, 07:11 AM

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.

Zathras · 07-22-2008, 04:31 PM

Heh, very glad I didn't listen to GoT and short BAC.
However, if it drops again I will be happy to buy more.

clifp · 07-22-2008, 04:38 PM

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.

cute fuzzy bunny · 07-22-2008, 04:42 PM

Quote:

Originally Posted by Notmuchlonger

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.

FinanceDude · 07-23-2008, 12:13 PM

If he truly is a "god of trading:, why does he ask US for advice??

Abreutime · 07-23-2008, 12:25 PM

Quote:

Originally Posted by FinanceDude

If he truly is a "god of trading:, why does he ask US for advice??

To evaluate the vagaries of the masses?

cute fuzzy bunny · 07-23-2008, 12:26 PM

It seems he's telling, not asking.

Uh oh, look out...

James5v · 09-06-2008, 07:30 AM

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.

slouch · 09-06-2008, 09:55 AM

Quote:

Originally Posted by Nords

I've added him to my "Ignore God" list.

how sad

07-17-2008, 12:21 PM	#1
godoftrading Dryer sheet aficionado Join Date: Apr 2008 Posts: 36	Short the bank rallies Short the bank rallies...BAC should be shorted on strong rallies ....

07-17-2008, 01:04 PM	#2
Notmuchlonger Thinks s/he gets paid by the post Join Date: Dec 2007 Posts: 3,207	What happens if you are wrong? __________________ lemony

07-17-2008, 10:14 PM	#7
clifp Thinks s/he gets paid by the post Join Date: Oct 2006 Posts: 2,338	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.

07-22-2008, 04:31 PM	#9
Zathras Full time employment: Posting here. Join Date: Jun 2006 Posts: 665	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)"

07-23-2008, 12:13 PM	#12
FinanceDude Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Aug 2006 Posts: 7,727	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).......:)

07-17-2008, 01:13 PM	#3
Marquette 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?

07-18-2008, 07:11 AM	#8
clifp Thinks s/he gets paid by the post Join Date: Oct 2006 Posts: 2,338	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.

07-22-2008, 04:38 PM	#10
clifp Thinks s/he gets paid by the post Join Date: Oct 2006 Posts: 2,338	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.

07-23-2008, 12:26 PM	#14
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Losing my whump Posts: 22,527	It seems he's telling, not asking. Uh oh, look out... __________________ Many an optimist has become rich by buying out a pessimist

09-06-2008, 07:30 AM	#15
James5v Recycles dryer sheets Join Date: Oct 2007 Posts: 55	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

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