has this thought ever occurred to you guys? I mean fuck i am in at 11.0 and every fucking day good news keeps coming out...
it's like one big conspiracy after the next and i am starting to believe it.
What should we do?
wait. FAS on the overlay chart is locked between FAZ' SMA500 and SMA600 so its trapped and has to break either one for any kind of serious movement. FAS in this trap formed the upside shooting star so far and slowly bleeding on top of the FAZ' SMA 500. so we stay flat for some unknown time.
its a positive feedback looop dude..just like happened to the downside
eventually it ends and pullsback
you can be bearish on financials and the risk/reward at these prices and be wrong for a few day as the last baggies buy high into the mojo
many people will be displointed 2 months from now if they go long financials today
Cramer was alluding to taking "some" profits here as a gentle warning. Personally I think he just didn't want to go the way of Dylan Ratigan for stating the obvious and after the Obama criticism reaped attacks from the great financial minds like John Stewart...Yet, he sees the writing on the wall and would like to say "I told you so" when this party is over.
There are tons of people speaking up and saying what he's saying. But no body is listening. No body cares. The market went up, that means everything is fine.
I don't know whether anyone will ever care. I can't say. I've made my bet at $9.5 here and will wait it out for a few days or 50% loss comes around.
Anyone find it interesting GE's capital arm revs decreased by 20%? It's because GE has no exposure to the AIG unwind! All banks should have had a dismal quarter, but the AIG unwind lined their pockets. Now they're parading around with their record profits. What an illusion and scam. Unreal....
Why even bother with stress tests if all the banks are doing so well? This is a conspiracy, it started with WFC last week. The banks went from talk of being nationalized to making money in 6 weeks. Doesn't that seem odd to you?
How can banks that are making money need more capital? This whole scam will fall apart the second one of these banks goes to the government for more money. AIG is about due to request another 30 billion or so:-).
This is no longer a market, it is a casino. The rules change and there is nothing but fraud. Short sellers will murder this market because it is built on lies.
AIG getting the last shot of money was the direct reason the trading and investment arm have been doing so well at all the banks.
We didn't bail out AIG to save AIG. We gave GS, JPM (and to a lesser extent C and BAC) billions of tax payer dollars for their previously worthless CDS through AIG. The AIG unwind is the only reason for the record profits. As long as the unwinding is done, the banks will have to face the music. The economy is in the dumps, and commercial and credit card defaulted loans are awaiting with such high unemployment.
AN investment has too components
We got the idea right but I think we got the timing wrong. We are too late now. I real trade in Financials was last year not now. Now they have bottomed and the funds that drove these financials down are covering because they know the late comers are piling up and they know it will go against them
First only trade this stock. Shorts haven't been tested for max pain yet. One thing for sure is its close. The market it might go up as high as 9k on the dow but it will surely come crashing down. If you get a bounce later in the day today you may want to cash out and buy back cheaper. If you can sell close to 10 a share and buy back after BAC reports earnings you may get back in around 7. Your cost will be around 8. Good to go.
No, we aren't wrong. Even most longs I talk to are just better traders than me. They aren't buying it either. LOL Took me 3 weeks into this before I made some bank on this rally. I just recently went back to the darkside because I know in my heart this cannot last.