Anybody try to short financials today?

niceneasy · Jul 21, 2008

i tried to short fnm today several times when it was up over 30%. i/b message said they would try to locate shares.

frustrating...

tomahawk · Jul 21, 2008

Quote from PaulRon:

if your gonna short financials play the double short etfs dont bother with actual shorting

Probably a dumb question, but ... how are short ETFs affected by restrictions? Can SKF keep going up and up and up when the stocks within it can't be shorted?

ang_99 · Jul 21, 2008

Every trader could probably make due with the rules as is in its current form, avoiding trading financials.

BUT, what happens if the entire market becomes this difficult to short? Then what?

traderTX · Jul 21, 2008

I couldn't short any of the big banks, but did get some shorts off on HDB and ITU

S2007S · Jul 21, 2008

Dont you guys know that the SEC said you CANNOT SHORT THESE 19 FINANCIAL STOCKS..........

This news came out last week, hope you know whats going on...

BNP Paribas Securities Corp
Bank of America Corp (NYSE:BAC) - The Masters like it
Barclays PLC (ADR) (BCS)
Citigroup Inc (NYSE:C) - The Masters like it
Credit Suisse Group AG (ADR) (CS)
Daiwa Securities Group Inc
Deutsche Bank Group AG
Allianz SE
Goldman Sachs Group, Inc. (NYSE:GS) - The Masters like it
Royal Bank ADS
HSBC Holdings Plc ADS
JPMorgan Chase & Co (NYSE:JPM) - The Masters like it
Lehman Brothers Holdings Inc (NYSE:LEH) - The Masters like it
Merrill Lynch & Co Inc
Mizuho Financial Group Inc
Morgan Stanley
UBS AG
Freddie Mac
Fannie Mae

S2007S · Jul 21, 2008

BY THE WAY FORGET ABOUT SHORTING FINANCIALS JUST BUY

SKF.

I DID ON FRIDAY AND THIS MORNING......

thirdcoast · Jul 21, 2008

my neighbor chuck schumer said he was having trouble shorting the next bank he was going to single out....

MrDODGE · Jul 21, 2008

Whether the SEC likes it or not the financials are going to open lower tomorrow.

dsq · Jul 21, 2008

Quote from S2007S:

Dont you guys know that the SEC said you CANNOT SHORT THESE 19 FINANCIAL STOCKS..........

This news came out last week, hope you know whats going on...

BNP Paribas Securities Corp
Bank of America Corp (NYSE:BAC) - The Masters like it
Barclays PLC (ADR) (BCS)
Citigroup Inc (NYSE:C) - The Masters l........
Fannie Mae

SORRY BUT THAT IS TOTAL BULL...IVE BEEN SHORTING BAC,C,WFC TODAY AND ALL LAST WEEK WITH ZERO PROBLEMS AND INSTANT FILLS THROUGH IZONE AMERITRADE....

Order ID Buy/Sell Qty Symbol Price O.Type Expire Status Fill Sp Executed Entered
4071199287 Buy To Cover 200 BAC 30.36 Limit Day Filled 200@30.26 10:33:51 2008-07-21 10:33:47
4071184066 Buy To Cover 200 BAC 30.44 Limit Day Filled 200@30.4399 10:31:51 2008-07-21 10:31:46
4071070537 Sell Short 200 BAC 30.73 Limit Day Filled 200@30.7401 10:17:49 2008-07-21 10:17:44
4070647193 Sell Short 200 BAC 30.10 Limit Day Filled 200@30.1301 09:38:20 2008-07-21 09:38:17

mwerbe · Jul 21, 2008

The s.e.c ban on short selling really only effects stocks with high short interests i.e fannie mae, freddie mac, lehman brothers. Bank of america has a two percent short interest so hopefully i.b will get its act together to allow you to short that one. Of course if you want to short 10,000 shares its a lot harder to find then 100. the sec list is a joke bnp paribas has like a zero percent short interest while stocks with like 50% short interest that don't get delivered are left out.