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Varchild2008 (83.79)

Financial Sector Insolvency!!!!!!!!! We are all going to Perish!!!! Run! Panic!! Sell!! Sell!!

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April 07, 2009 – Comments (1) | RELATED TICKERS: BAC , JPM , PNC

Oh uhm.. I'm just trying to help out George Soros, Meredith Whitney, Mayonaise, and all the other Doom and Gloomers on the entire Banking Sector.

I mean come on?  Do you really think I want to continue bidding up for these banks?  NO!

For (BAC) My highest price point is more than a full Buck lower from it's market price...

Sure... I want more shares of banking stocks like BAC.... But, I want them priced as low as the Panic Sellers and Shorts can make them for me....

What is going on in the Banking Industry isn't being discussed.  It is all being shoved under the carpet for financial gain.  George Soros has been SHORTING America's Banking Sector for a long time and he doesn't want to quit until America is in financial ruin. (His Brand of Liberalism)

You seriously want to be in the George Soros camp of Financial Banking Ruin?  ROOT ROOT ROOT for RUIN!!!   Being Bearish on the Banks is the Contrarian Position?  Since When?

I'm taking the real contrarian side cause I see the following:

1)  Loser banks like BAC, JPM, PNC, have recently acquired other big banks and thus have a lot of large assets on their books.  If there was any worry over Credit Card problems, Loan problems, commercial loan issues, real estate mortgaging issues, and etc.  Then why aren't we seeing these loser banks sell off their Biggest, Best Assets to stay afloat?  I mean Wachovia is getting shopped around I think... And that's good to see these assets get shopped as well as this helps. 

Whether large assets are coming off the books for fear of future losses or not... It is a win win....

Either BAC panics and sells off Countrywide to someone or sells Meryl Lynch to someone and thus shores up plenty of cash for the future economic troubles.... Or they are doing so well and are so stable they don't need to shop their big assets out.

The Scare Tactics do not hold up to reality no matter how you look at it.

2) Anyone notice the Mass Consolidation in the Regional Banking Sector?  Smaller banks are merging together to form bigger ones and take up market share from the large money center banks.
I apologize in that I can't remember the darned ticker symbols but I've seen em and a quick scan through the regional bank sector won't take you long to find them.

This is Bullish!  This is bullish on the Consumer and Commercial Markets to have smaller banks getting bigger and better to withstand the economic down turn.

Remember the vast details and discussion out of MAYO regarding this? No? I don't either.

Is George Soros talking down the consolidation?  Nope.  He's just not bothering to mention it. 
Because you can't generate a Wall Street Panic by pointing to things that make your Bear Calls look foolish.

3)  Big Money Center Banks have been buying up Triple AAA Securities from the Government.  I've tracked the press releases and I like what I see here.  I like that banks want to buy up each other's assets.... I like the possibility of a bottom in Housing prices this year and I like the opportunity going forward that when prices go up... All of those "BAD" Assets will quickly start to look like "GOOD" assets.

This whole concern that Investors will shy away from buying the Bad Assets because Housing Stinks... That all reverses 180 degrees the other direction here folks when we start to see widespread reversal in Housing.  A Housing Bottom is a tremendous BOON to both the Consumers and the Banks... That's a double edged sword of BULLISHness on the Financial Sector.

BEARS like Whitney Houston,  Mayonaisse,  and George Moveon.Org Cause I'm busy Shorting, SOROS, won't like that when it happens.

So where was I?  Oh I remember.
 
Financial Sector Insolvency!!!!!!!!! We are all going to Perish!!!! Run! Panic!! Sell!! Sell!!
Oh my God!! I've been hit!! I'm bleeding.. I'm bleeding!!!  RED RUM! ! RED RUM!!

1 Comments – Post Your Own

#1) On April 07, 2009 at 10:34 AM, Varchild2008 (83.79) wrote:

Guess what?  Wall Street isn't stupid.. BAC and other banks after falling off a cliff in the first few minutes have now edged up to a level where they are priced higher than yesterday.

There's too many reasons to get behind the Banks and too little reasoning to sell or short them right now.

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