newbie needs advice trading bank earnings stocks

Discussion in 'Trading' started by ocito, Oct 19, 2009.

  1. ocito


    Hi. A few banks report earnings tomorrow and a friend in the banking business told me that the expectations of profits are too high, and that losses are still there from bad loans. He suggested I buy puts. He is not an insider, and his information is simply what he has absorbed as an employee.

    The banks that report tomorrow have risen alot in the last 6 months, and a decline would not be surprising. How do I play this?