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Vet67to82 (< 20)

Direxion Financial Bull 3X Shares (FAS): Top holdings

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April 17, 2009 – Comments (6) | RELATED TICKERS: XLF , FAS , C

( FAS )  After Hours: 8.86 -0.18 / -1.99% Vol. 2.34 Mil
 
Top holdings  as of 3/31/2009
Symbl  Company name % Net assets                 After Hours
JPM    J.P. Morgan Chase & Co. 8.56%         33.15 -0.09 / -0.27% Vol. 617,655
WFC  Wells Fargo Company 5.22%               19.39 -0.06 / -0.31% Vol. 404,487
GS     Goldman Sachs Group, Inc. 4.07%     120.86 -0.33 / -0.27% Vol. 111,141
BAC  Bank of America Corporation 3.75%      10.40 +0.06 / +0.58% Vol. 580,326
BK     Bank of New York Mellon Corp 2.81%   30.91 -0.30 / -0.96% Vol. 59,343
USB  US Bancorp 2.21%                               17.97 -0.09 / -0.50% Vol. 201,128
V        Visa, Inc. 2.16%                                  58.05 -0.02 / -0.03% Vol. 20,831
TRV   The Travelers Companies, Inc. 2.14%     43.19 unch / unch Vol. 21,924
 Percentage of holdings  30.92%
 

  Expecting a down open ... and C reports early ... expecting 35- 40c loss -- a better report could be a BIG Bull day for the Financials and the S&P. 

 Good luck all. 

 

6 Comments – Post Your Own

#1) On April 17, 2009 at 2:11 AM, tomd728 (< 20) wrote:

I can only hope that the Investor sees through the smoke screen and takes a realistic look at these financials other than Investment Banks (GS,JPM,MS etc.).

But I'm whisteling Dixie on that hope as "the trend is your friend" and not fighting the tape will always be the there for the trader with little or no thought on reality.

They are up and that is the reality du jour.

Me? I'm short the S & P using SDS after getting my head handed to me using the Ultra Short Financials.

I really want to make some money back and appear as the enlightened one. "That's all folks !" Now who said that ?

Clue: We look alike.

Tom 

 

 

 

 

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#2) On April 17, 2009 at 2:59 AM, speedybure (< 20) wrote:

FAS? go FAZ long Calls, these institutions are so beyond broke its not even funny anymore.

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#3) On April 17, 2009 at 11:38 AM, Vet67to82 (< 20) wrote:

 Well, I'm concerned for individuals that are short. 

First: 

Mark to market was flawed.  Refusing to acknowledge mark to market was flawed ... is using emotion instead of using common sense.  I watched the Congression Hearings (Inquisition) of both the FASB and the SEC.  The testimony was clear, was VERY evident, More guidence needs to be given with more categories to account for differences in the assets and the timeframes the assets will be held, such as "held to maturity."

Per the testimony in the Congressional Hearings, many companies used the WRONG Mark to Market model (1) because they didn't have expertise to do the "cash flow" model or (2) they didn't have the people to do the cash flow model and (3) the auditors, who are suppose provide guidence and an unbiased independent assessment, went with the worst case scenario -- excuse: concerns over litigation. That's negligence by the company's management (CFO) AND the auditors were clearly biased given their concerns over litigation.

 Who said TWO wrongs don't make a right?

I can understand the short seller wanting the worst possible appraisel of the assets ...to cash in, clearly to the detriment of the stockholders, the creditors, and to the extent the company is in into TARP and TALF ... now, you want to stick it to the taxpayers too?   I hold that the lowball estimates were not a FAIR and HONEST appraisel,  clearly WRONG, possibly even meriting criminal and civil charges.   

WaMu is suing the FDIC for Billions.  I expect the evidence brought out in that trial is going to be very damaging to the auditors, the FDIC, and the US gov't.  I expect the FDIC to settle out of court, and seal the records, to keep the extent of the transfer of wealth from the public.  We were robbed!   

Second:

  The SEC is considering 4 scenarios on rules changes to short selling ... time frame for expected implimentation is 3 months.  In the interest of a fair annd balanced market I am, and will be commenting on those changes.  I will create a new post for the suggestions I am, and will be making.  Many people, unhappy with the rampant short selling, are happy with my "constructive" comments, suggestions, and recommendations and will be putting in their 2c through borrowing mine.  

 So it may be pruident to use this "3 month"  window to close short positions 'till we ALL find out what the "final" rules on short selling will be.    

 Hope you're having a good day.   Good luck with your trades.

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#4) On April 17, 2009 at 12:00 PM, bigpeach (32.81) wrote:

speedy, why do you think the companies above are broke? JPM, WFC and GS have all reported profits. BAC is expected to report a profit, although they are in a more precarious situation than most. GS just raised $5 billion through an equity offering. Banks no longer have to write assets down to fictional levels, which will help boost their capital. All have very solid Tier 1 capital ratios. V has no debt exposure. TRV has one of the finest risk management teams out there, and hasn't really gotten into trouble at all. I don't know much about BK or USB, but they were among the more conservative banks and have held up better than most. The only company I would have concerns over is BAC, and yet it looks like they will survive. Would you care to explain why you think they're all broke?

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#5) On April 17, 2009 at 12:11 PM, cubanstockpicker (20.60) wrote:

Three reasons to be bearish on banks

1: Moratorium on Foreclosures are over, banks have to report their losses now, and when the foreclosure moratorium ended yesterday, a whole new flood of mortgages have gone bad.

2: The banks are using the fed to make a quick 20-40% buying and selling distressed assets.

3:They will not be able to implelemtn the mortgage plan to everybody.

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#6) On April 17, 2009 at 12:44 PM, Vet67to82 (< 20) wrote:

Thanks for your reply cubanstockpicker and your thinking on reasons to be bearish on banks ... however ... may I point out that item #2 " ...using the fed to make a quick 20-40% buying and selling distressed assets", if true, could mean a huge boost to earnings yet to be announced ,,, and therefore an argument for the " earnings suprises" bull case ... not the bear case.

Your mortgage points are well taken.  Clearly, it would be a great benefit to get people back working .  Incomes are a sure way to keep people that want to stay in their homes, in their homes.   Having the money to pay the mortgage will be big benefit to the banks, and a clear signal of a turning point in the econnomy.      

 

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