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Wait for August FFIEC Call Reports Before Taking a Long Position in Banks

"The perceived improvement, or for that matter the perception that the losses have peaked, has caused one of the greatest short-term rallies in the history of financial stocks."

Hardly. The past week's price hikes resulted from the emergency rule banning naked short selling in many financial stocks. If you look at USB, for example, there was no real "rally" because during the few weeks before the rule went into effect, USB's pps had declined a ludicrous $13, for no reason other than a massive increase in short positions. Despite what you mistakenly call a rally, USB has not yet recovered its price of a month ago. Your story is misleading, making me suspect that you are a fan of short selling, including naked short selling: it makes your speculations more "prudent".
Jul 24 10:34 am |Rating: 0 0 |Link to Comment |View article

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Comment Stream » USB

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Wait for August FFIEC Call Reports Before Taking a Long Position in Banks

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