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Direxion Daily Financial Bear 3X ETF Message Board

  • reliant91 reliant91 May 3, 2009 10:30 AM Flag

    Last night a friend of mine told me that financials will be okay.

    He really is knows what he's talking about. He has a lot of experience in the business. I was about to buy BAC puts on Monday, but now I'm not so sure.

    But I'm not worried about buying FAZ stock. You can ride the swings in FAZ forever. As long as you don't hold it too long.

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    • Listen, I have two friends in Banking, one pretty high up in C the other in JPM. Just before the collapse in november they were both telling me that their companies were tremendous buys C was around 18. My friend in JPM said that WAMU was a big buy because Chase was looking to buy them out. WAMU was trading at around 16 as well. This is all they no is banking. They both were telling every friend of ours to buy. They both said the buzz inside their company was the same. Need I say more. C went to .97 cents and wamu got bought out alright for pennies on the dollar. Moral to the story, even some of the highest positions in the company have no idea about the bottom line. If they did news would be easily leaked. The guy at the top cannot afford that to happen. So take your friends advice with a grain of salt.

    • They'll be okay, but they're still going to have to correct significantly before moving forward.

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