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IBDvalueinvestin (99.64)

Who the heck is buying all the banks? and Why?

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February 26, 2009 – Comments (7)

What the heck is going on here,

7 Comments – Post Your Own

#1) On February 26, 2009 at 9:48 AM, IBDvalueinvestin (99.64) wrote:

Looks like Hedge fund shorts have decided  to cover Banks especially those that Tarp benefits greatly:

http://seekingalpha.com/article/122514-pinpointing-the-most-attractive-tarp-investments?source=yahoo

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#2) On February 26, 2009 at 10:32 AM, IBDvalueinvestin (99.64) wrote:

Can 22M shares short on ZION be wrong? Why is ZION up $2.40/shr

Shares Short (as of 27-Jan-09)3:22.06M

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#3) On February 26, 2009 at 10:41 AM, IBDvalueinvestin (99.64) wrote:

I just checked the insider buying at ZION and they have been buying well over $1.5 Million worth of ZION shares in the last 3 weeks..Including over 300k this week. So I have the answer to my question. Insiders are buying heavily.

http://www.secform4.com/insider-trading/109380.htm

 

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#4) On February 26, 2009 at 11:13 AM, devoish (99.10) wrote:

That secform4 report does not match the information on Scottrade, whose latest sec report is Feb 24, and latest sec 5 is the 23rd and is a year end rreport showing mostly selling Glen Perry (Perry Glen?). The companys website also does not show the buying secform4  report shows.

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#5) On February 26, 2009 at 11:52 AM, IBDvalueinvestin (99.64) wrote:

Devoish you need to trade up to a better broker. Those buys are as real as the computer I am typing this on is.

But like they say just because insiders bought does not mean you should buy. Many insiders lost everything buying with the average down strategy.

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#6) On February 28, 2009 at 8:18 AM, devoish (99.10) wrote:

IBD,

Those insider buys you showed us still have not shown up on the Scottrade website or on the Zion website.

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#7) On February 28, 2009 at 8:27 AM, devoish (99.10) wrote:

IBD, I'm sorry I had just been reading sec4 for Zion Oil and Gas when you posted this and thought you had jumped off of your bank topic to Zion Oil and Gas when you mentioned Zion.

We were talking about two entirely different companys.

It is my fault for just glancing at the bar graphs on your sec4 link and not reading the whole name of the company above the chart.

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