Shorted Washington Mutual before the bell and before earnings. Numbers don't look that great but is trading above in after hours. I hate trying to play earnings. I hope tomorrow is a shitty day in the market and drive this baby lower. I think a I made a bad call...anyone else?
The numbers look odd to me especially the credit card related crap they tried to pull off sure hope the analysts acutally grill them on that during the conference call.
Thanks, I hope WM goes to 39.50 tomorrow and then I'll dump it and get it off my hands. Yeah, CFC has had a sick runup last couple days. Might be a good idea and maybe see 37.50 or 38 and short ahead of earnings which I think is next Thursday 4/26. Maybe runup last couple days has just been short covering? I don't know...My friend works for this company and I'll see what he has to say. Maybe Mozillo will sell off more shares or go on CNBC which usually brings his stock down.
Well, I suck. Practically all financials higher. I'm holding my short position and would just like to get out even. I really thought about shorting CFC but didn't man up. Tomorrow is looking to be a red day with Asia thankfully tanking. Hope that carries over to Europe and US tomorrow. Maybe this is the start of my mass global market correction but probably just a one day sell off that won't carry bear legs.
God, I still wish I had my WM and CFC shorts. Had those two pegged in the Spring. But I know I would have covered sooner. I'm actually thinking of making a revenge trade on WM to the upside in high teens. Haven't seen it this low in awhile. How much more blood for them?
incredible, nearly every bank is at or below 52 week lows. Reminds me of 1999 all over again this time though its not tech.
Good job staying the short course on these toxic pig financials. I got pissed paying a dividend one quarter on my WM short. I think I had like 1000 shares short at $42 and the bitch wouldn't die and kept floating around. Think that inflated dividend is gone now, no?