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Non-Tech : Bill Wexler's Trading Cabana
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To: The Reaper who wrote (3801)7/20/2008 5:31:50 PM
From: RockyBalboa   of 6370
 
Thanks for the reminder and the numbers, the banks do look interesting. I was a bit leery about shorting and paid some good money into the bouncing markets. If one takes a 70% hit in options in the brokers stock in few days it is time to rethink... But I believe we´re not done yet and PACW, PCBC provide some meat.

Just be patient and wait until the smoke after the expiration day and the barrons buy recommendation clears up. Also I want to see some quarterly reports first.

I put out a decent position of SOV (amognst others) a month ago and it fell by a third. It reclaimed $2 since but it looks as if I rather add to SOV.

It is probably a good idea to avoid the primary dealers which are now under the official shelter of the Fed, and to turn to those banks which are definitely allowed to fail.

After this week holidays begin and I´m off to Dubai, the Vegas of the middle east, for a few. The whole trip + accomodation is surprisingly cheap.
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