Shorting the Big Banks (e.g. JPM, BT, CMB, CCI) Message Board

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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI)

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To: BDR who wrote (10)	9/4/1998 11:48:00 PM
From: HiSpeed	Read Replies (1) of 268

Searching for more of our favorite shorts that need to tank a little harder. Some banks are setting new 52 week lows- very bearish for the sector. Whether we short the BIX or BKX, the charts look the same. IMO, BEN has been whacked unusually hard and will be a very strong buy -- someday (so will STT). A few still need to set new lows: FTU, COF (just started to break), WFC is only 25% off its high; and if it follows the rest it has another 25% to go. I wouldn't fight the trend in this sector. Many of the banks are exposed to worldwide markets that are blowing up faster than Clinton can say "I didn't do it - well not legally". Anyone notice that gold is starting to tick up again? Drug stocks are holding up relatively well but I wouldn't want to be long anything in this market.

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