Wow who is going to fall for this line of garbage. Walked away for a few hours and went to look at some AH quotes and noticed bank stocks surging so like any bear would do I went long FAZ around $51.50, this pop you see tomorrow is what we call temporary. Sell the rally tomorrow. Sell the RALLY.
You keep talking about these losing positions, do you have any idea how many times I did this with DUG and SKF, remember the last time I averaged down into the loser ETF DUG under $30, sold out for a profit in the upper $30's, that same "LOSER" jumped to $85. Yep if it drops to $38 the next order goes in, don't you comprehend how this ETF moves, one week 36 the next $58, if you think that this bad bank solution is going to be bring about the next bull market you have another thing coming. How many times was this tried out in other countries????? Watch how quick this "great" news turns to be a negative. FAZ Back to $65.
Yes. Futures are up since the bell. It's hard to believe the market has any faith whatsoever in financials right now. Tomorrow should be interesting. Maybe a 40 point gain (followed by a 50 point loss Thursday).
Looks like the big bank execs are pouring their money into their own stocks, says something. BANK is determining the value of the market, so I've been told, and if the big bank men know what they're doing ( did I really suggest that) then we could be going bullish.
whos buying ?and how much are they buying?maybe their buying shares as insurance against lawsuits so they can say" hey, i lost money too!".I would call ken lewis buying 1 million dollars worth of his shares at these extremely lo prices as a vote of non-confidence at best.At these prices he should be buying millions of SHARES if he trusts his business.
Keep picking up pennies in front of a steamroller with your contrarian "average into losers until they turn around" strategy.
The banks account for very little on the DOW right now, something like 3%. They can go to zero and the dow would only drop 400 points or so (assuming everything else stayed the same). The problem with the insider trading report is the insiders are well aware investors read that information. I'm sure they push it through media outlets for a little extra exposure, too. Look at it as low cost advertising that might have a nice return as a bonus.
Interesting Cjones, that makes sense. Put money in to try and boost the stock. Banks do make up a larger part of the Nasdaq and SandP right? How would I find out that info, other than asking Cjones of course. Even if banks don't make up a large part of the indice, they are basically a big cause of the crash and the economy so could still be the leading factor in the indices. I guess the banks crashing again, would show the situation is getting even worse for them and the companies that depend on credit. If there is another whammy, and banks will start collapsing, I think the market would head sharply lower, but if banks build confidence that the worst is over, then investors can buy into companies at an extremly low price without fear of bloodshed. So, it still seems to me like BANK would be leading the market.