traders on wallstreet....bob pisani said "Traders have a new plan, they have decided to "Re-short Finacials"....
That doesn't sound like a new plan
Financials were off 50%.... but apparently the thesis is they should go to 30%?
Want a Dollar Bull thesis... I went to "Fly on Wallstreet" and he was throwing out Jim rogers.... Umn... When my mother is quoting Rogers...seems like it has jumped the shark
Friday, July 18, 2008
Traders blind sided by rally
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5 comments:
What a boring day here.
Me too... do you feel like we are at the point with the oil stocks where
all the analysts come out and say
"the valuation is great here, We don't understand, the stock motion"
I'm scared of the refiners, it's such a hot trade...they may still leg down.
Yeah, you're right. There's no panic in regards to oil at this level. Interesting.
Bloomberg said oil fell too far too fast - like it needs to correct up :)
I'm scared of the banks. Can't believe what good cooks they are. Or things are really pretty rosey and that also throws my whole 'thesis' off.
... I stick with my "Money center and Ibanks" are where the pain is.
50% are about all they have ever sold off.
there is some pain in the regionals...but they can issue CD's they don't have to issue stock.
They keep talking about Big banks buying the regionals... but I think the regionals are going to cut up and consume the big banks.
The banks never said "kitchen Sink", that was assumed by traders. They never said it... City finally said "We don't know when it's going to end"....
Now that is honest... Maybe that is when it is cooked in, when they fess up that they don't know when the Write downs end....
it's said real bottoms happen when nobody is looking.
but I'm talking my book ;)
I've been looking for those banks for 6 months now....
they trade neutral till the write downs do end, maybe?
or not... WTF do I know.
Everyone was on that side of the trade. and after getting nailed short, it's going to be hard to see them do it again... they are Revenge trading now... That always goes well...
I was looking at refiners.. VLO is down 80%... I hope it's building a base or it's going to ZERO.
I just ran some of my MOJO EWT, chart astrology... and VLO looks good. I havn't checked your picks.
I'll also say that when contacts expire, oil may build a base at 120 level...
I probably wont play it but maybe a base there in refiners.
Iran instability is cooked into the oil, The fear is for that to unwind.
I was talking about VLO, not TSO...
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