DId anyone read the brief article on the NYSE short position of various stocks that trade on the exchange? It seems like NYB has had over a 50% increase in the amount of it's shares being shorted, comparing last month to this month.
It is kind of scary, to me. They announced such good earnings, last quarter, and have projected very good earnings, for the quarters ahead, coupled with the fact that the stock has not really increased in price, since the last earnings call, and it makes you wonder how and why the short sellers have "come out of the woodwork" to sell this stock short, and that this position is working for them.
It is the fact that NYB happens to be in the wrong sector (financial), is the fact that "wall street" doesn't like the CEO and/or believe in the numbers stated and projected for the future, or does the market know something that you and I don't know, relative to a material adverse change, or an acquisition, or some other situation.
Your thoughts are appreciated and welcome.
Now I can respond to you like a human being.
I have posted the stress test from the citi group report,and it put NYB as one of the two top banks, i believe the quote was" NYB and TCB demonstrate the lowest possibility of incurring losses." Not to mention the Janney report I just put up. Either way you make up your own mind. I believe we are done.
First of all, I'm not shorting this stock. I bought in at a higher number a few years ago and I'm not happy about how the stock has performed. If the economy was chugging along I would say that JF was about to climb back to the top of the hill. But I can't say that because of what is taking place currently. In my opinion, NYB is not sufficiently diversified to "shine". Offseting future profitabliliy will be additional loan losses and reserve requirements. Stress testing will be a component that gets planted firmly at all banks in the future; given NYB's weighted distribution of loans, this will be a reality sooner not later. Outlook = mediocrity.
Gee that would be good news for me if since I am a long I am now an employee of NYB. My hours got cut down to a 4 day week....maybe I can collect the missing money from NYB!!
Have a good weekend all longs! Friday is my day without pay day!!
Ok, now every one here who is long is an employee.
No i just don't like shorts in a mom and pop stock. I equate them to economic therrorist.
No need to reply,Im not interested in anything you have to sell.