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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI) -- Ignore unavailable to you. Want to Upgrade?

To: HiSpeed who wrote (109)	9/16/1998 8:47:00 PM
From: Logos	Read Replies (1) \| Respond to of 268

Well, this was an interesting day. A bunch of banks went up expecting easing words from Greenspan, dipped when such words didn't materialize, then rebounded a bit at the end of the day, possibly due to some rah rah rah from Clinton. Hmm, doesn't look like a very weak sector right now, does it, which is a little annoying since I have some puts on some of these banks. For the shorts, however, there's a piece at TheStreet.com that says no way Brazil escapes devaluation without a bailout that just won't happen. We all know that any sort of devaluation in Brazil and the banks go bloowey. I guess the near term future of the banks, from a trader's point of view is: Just how much effort will the G-7 and the IMF and others expend in saving Brazil from a devaluation? It seems the markets here and in Latin America are betting that Brazil holds steady. This is not my area of expertise, but I'd love to get a good discussion going on the chances Brazil, Mexico, or some other big country being forced to devalue or impose capital controls or whatever. Logos