Buy Financials/Banks May 1/2008

B

bearnbull

I'm planning on loading up on Financials in the morning to catch the upside ran for the day. I need all your help. Buy.....Buy....Buy.... Just my call.:)
 
buying financials now? I tend to disagree.

Citi, wamu and many others one have had a recent run from their all time lows. I believe we are bound for another major pull back and don't want to be long right now with all the negative talk and judging on today late day pull back in the market. I'm heavily heavily short Wamu at this point (put options) and no position in citi yet
 
Quote from bradstal:

buying financials now? I tend to disagree.

Citi, wamu and many others one have had a recent run from their all time lows. I believe we are bound for another major pull back and don't want to be long right now with all the negative talk and judging on today late day pull back in the market. I'm heavily heavily short Wamu at this point (put options) and no position in citi yet
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What I meant is only for a short term. I would say till next week or even for intraday. Remember this is for May 1, 2008 entry point.:)
 
Quote from bearnbull:

Well............did any of you guys did???? Not a bad call ain't it???:D :D
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Good call. I didn't buy into financials though because I hate them right now. MBIA (MBI) continues to rise, up almost twenty percent over the past two days.
 
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