This has major upside implications for those left standing. Don't be surprised if BBT returns the TARP money it didn't need. What affect will that have on the shorts? Finerman quickly covered for a reason.
Funnie, I read your other post on the index strategy. Not bad. The price behavior of this stock has always followed up/down along a narrow range. When shocks come to the financials (good or bad), this company follows suit, then its always back to the range. This occurs because there has been no new strategic initiatives at the company since the early 90s. There is nothing for investors to get excited about and drive long term price appreciation. So the price is always predicated on how much the market is willing to pay for the dividend. (Gee just like a BOND) Right now, not much.
HEAVY TRADE SUGGESTIONS are...
go SHORT ENTRY on the Treasury Bonds
a trade setting up is... let the market rally, then short Real Estate, and short the entire stock market
other than that, leave the rest of the market alone
if i had to make a short-term guess trade but i won't do the trade, let's call it a paper trade... -- JNJ -- i would have bought long entry at 55 1/4 limit
in my wild speculation account which i do not recommend to anyone unless they have made a ton the past 1.25 years, i bought the market on the close yesterday thinking we would reacquire the S&P 500 LEVEL of 820, and we did, and i exited 25% of the weighted trade just in case we go back to the lows of yesterday's close where i would exit the rest of the position at break-even
so far, from all the hands they've shown us, they are all bankrupt?? -- why try to guess -- why not leave it alone, let the trade be, move into another trade that makes sense -- why try to conquer rome when you can go have your own private island -- i guess it's human nature
This quarter BBT:
- increased it's dividend by 1 cent
- purchase a mortgage banking business
- purchase insurance companies.
- purchased another bank's book of business
and is one of the few banks in the Triad region of NC where people with good credit can get a mortgage.
On the downside, BBT is trimming jobs
Does this sound like a company that is going to announce disappointing earnings on 22nd?
now there is a good reason, and not an excuse
the dude covered because he had other use for the money -- smart move if it is true
as far as the last sentence you wrote, i'm glad you said it instead of me, cuz it sure would tell the whole story of what was really going on with BBT if it is true -- we'll soon find out -- i've been thinking about fraud for the past couple years that might have caused the big mess
sPOOR, what do you think? you're enjoying your heaviest favorite investment in any one stock tanking? -- anyone that follows this sPOOR guy into a trade is asking for trouble -- best part of these message boards that sPOOR doesn't like is you can see someone's track record in writing -- clearly, we've seen his
"fraudulent money trafficked by bbt"
is a slanderous statement on a public chat board that can get you into serious trouble. I suggest you think about your statements before you post them. You obviously have no clue about BBT or Finerman.