Washing My Hands Of Lenders/REITs

C

CalScholar

I plan to exit my last position in the battered lending/REIT sector by the close. The past couple weeks has been the bubble in reverse for this sector and something is going to give. Far too many people have jumped on the bandwagon at this point and if that's not the surest sign of an impending reversal, then I don't know what is. If I do get into another position in the sector, it will be a small one with a very tight stop.

Good Luck!
 
This is the best time to get into them actually.

Right now may not be the exact bottom, but I feel its coming in the next few days to weeks. Look at Indymac when it dropped in 98, that was a great buying opportunity.

I have learned that when you feel like its time to wash your hands, then maybe you should take a second look. Goldman is going in deeper in fact.

I say to wait a little bit more and see how things shake out. Then establish a position on a notable uptrend.
 
wait for the commercial real estate market to slow down, think its time that market cools off as well. Thats still going crazy do to the huge private equity buyouts in that area.
 
Quote from michaelscott:

This is the best time to get into them actually.

Right now may not be the exact bottom, but I feel its coming in the next few days to weeks. Look at Indymac when it dropped in 98, that was a great buying opportunity.

I have learned that when you feel like its time to wash your hands, then maybe you should take a second look. Goldman is going in deeper in fact.

I say to wait a little bit more and see how things shake out. Then establish a position on a notable uptrend.
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I don't know about that...I think this is the exact time to be figuring out how deeply this affects the whole market.

Wall St. could get up after the tech bubble burst, but having a couple hundred thousand houses in a slowing economy isn't exactly something that can be quickly assessed and certain markets aren't recovering at all.

You're catching a falling knife at this point...general markets will be reeling from this for a while and feeling the effects of this for the next year or more.
 
Quote from CalScholar:

I plan to exit my last position in the battered lending/REIT sector by the close. The past couple weeks has been the bubble in reverse for this sector and something is going to give. Far too many people have jumped on the bandwagon at this point and if that's not the surest sign of an impending reversal, then I don't know what is. If I do get into another position in the sector, it will be a small one with a very tight stop.

Good Luck!
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Baruch said, " I never got the top, I never caught the bottom. I got the middle."

Nice job Cal, and a very conscientious, humble, and well thought out decision. Nice job posting too.

Guys like you are the best part of ET. Hey, whatdo you look like? Are you hot? You are 18, right? I don't want to be on no Dateline! Hey, why do they call it Dateline, when they bust my pals for getting dates???:D
 
I definitely wouldn't buy here. In fact, I remain extremely bearish on the sector. However, it's just getting way too risky to be short here. Time to exploit new markets! :D
 
Quote from flytiger:

Hey, whatdo you look like? Are you hot? You are 18, right? I don't want to be on no Dateline! Hey, why do they call it Dateline, when they bust my pals for getting dates???:D
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I look a lot like this guy only without his pearly whites:

ugly%20girl.jpg
 
Quote from CalScholar:

I plan to exit my last position in the battered lending/REIT sector by the close. The past couple weeks has been the bubble in reverse for this sector and something is going to give. Far too many people have jumped on the bandwagon at this point and if that's not the surest sign of an impending reversal, then I don't know what is. If I do get into another position in the sector, it will be a small one with a very tight stop.

Good Luck!
More...

One of the better calls I've seen on these boards.
 
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