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IBDvalueinvestin (99.67)

Ok someone explain why banks are nearing red now?

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April 02, 2009 – Comments (6)

Please don't tell me that the FAS rule change was all baked in already.

6 Comments – Post Your Own

#1) On April 02, 2009 at 1:51 PM, IBDvalueinvestin (99.67) wrote:

Market has soared 500 points in just 3 days to over 8,000 on the DJIA now if we can get past tomorrow's deadly unemployment number we will have clear sailing ahead.

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#2) On April 02, 2009 at 2:03 PM, IBDvalueinvestin (99.67) wrote:

I can't believe it, I thought  FAS would be up 50% on today's news of FAS rule changes, instead its struggling to stay green presently.

What a shocker...

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#3) On April 02, 2009 at 2:09 PM, Josher429 (< 20) wrote:

can someone post a link on the rule changes? 

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#4) On April 02, 2009 at 2:24 PM, motleyanimal (85.49) wrote:

I've done better shorting FAZ. My thoughts are that it is very vulnerable in this environment and could liquidate within the year

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#5) On April 02, 2009 at 2:41 PM, IBDvalueinvestin (99.67) wrote:

Motley you may be right in the longterm,. but short-term I believe if any banks miss they will be completely crushed because so many have risen 50%-100%, there won't be any sympathy for banks that miss estimates this time around after those huge gains.

The market has set-up the bank sector for another big crash.

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#6) On April 02, 2009 at 3:08 PM, OleDrippy (35.11) wrote:

"sell the news"... I got hosed on my FAS positions today, too.. Took 4 hours to stop me out.. Bastards, thought this one would have some legs.

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