I know there are only a couple of people on this forum who actively trade stocks but I must say that if you have bought financials in the last week, now is the time to sell them and collect profits if you haven't already done so. Actually it is time to short the financials again. I know that I said that there was going to be a rally for a while, and it did. I just expect a retracement in the financial sector and you could make even more change shorting back on the way down. The reason that the financial sector went up so much so fast is because of the new mortgage bail out for freddy and fanny mac. You see allot of those two stocks are owned by the friends of Paulson and Bernake. They are going to actively dilute the stock in the market (that means that there is going to be more stocks available). The chinese know this because they have been told by the fed that this was going to occur. So the stocks have been pumped the last week or so so that the friends of Paulson and bernake can get out. Whatever you do, now is not the time to buy the financial sector. It is a time to short.
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Think we will see another huge financial sell off RW?
I keep close tabs on UYG
Would like to see it drop below 20 again to begin a position.Comment -
Rage I bought Citigroup at 22.30 you think now that it has rebounded a bit I should sell it and count my loss? I also ha TJ Max (TJX) and Sirius (siri) and At&T (T) those i am definetley gonna hold. any thoughts?Comment -
time to buy GLD?Comment -
Trading the financials is volatile right now, investing in them for the next 5 years should profit nicely.Originally posted by HAPPY BOY
T has been beaten down lately, if you have a long term outlook, they will be fine.Comment -
The financial sector has gone up crazy high in the last week. I just sold BAC and got 60%, XLF and got 40%, C and got like another 30%, and a couple of others. Today it held up pretty well, only lost like 5% as a group, but I don't think that it will hpold up for long. I'm telling you guys there is a retracement coming in this sector and the market cannot hold a rally with out the financials. If you just bought, I hope that you put in a stop but more over, I think that they are back on the way down, maybe not to their lows of a couple of weeks ago, but at least 20%, this was a short covering rally and on top of that the SEC was trying to make it hard to short so the stocks got a pop for the foriegn friends of the fed.
as for the other stocks in different sectors, they shouldn't be affected that much.Comment -
Agreed. Gonna keep cash in the sidelines until the moment presents itself. Let it rest in the COLUMBIA MUNICIPAL RESERVES DAILY...1.08% 7-day yield. Best I could find short term. Didn't want to lock up for 4 months on a high yield CD and miss out.
We're gonna take another ride on the financials.....lets track a few potentials.
I like (MF)......keep it on the radar. Closed at $6.68.....rest of the financial sector got shelled. Definitely can catch a ride on this. Wait for a good spot.....Comment -
Your right, if you are a buy and hold guy, then they are still O.K. for the 5 year plan, but you should have bought a week ago, don't buy now, there will be another oppurtunity.Originally posted by SlickFazzerComment -
I came close to buying (C) at one point. There are so many parts to that company though......Comment -
know of any tax free brokerages i can get down on these?Comment -
I don't know exactly what you mean, but at the end of the year you can claim broker expenses on your income tax for capital gains. If you talking about a vig free broker, they just don"t exist. Would you be a bookie for free?Comment -
i think that ship has sailedOriginally posted by Sinister CatComment -
I knew I was going to bankrupt all the banks sooner or later by taking advantage of all their $50-$150 signup bonuses!Good for the state run central government ''forced u.s.taxpayer'' backed socialist banks,lending institutions and brokerages.Free market my ass!Comment -
yesOriginally posted by RageWizard
aren't there swiss accts i can trade with tax free?Comment -
rage, where is the TA chart? i want to see your fib levels.Comment -
The best financial to own is probably GS. They're in on the whole Fed scam, so know the moves, directed by a behind-the-scenes group of international bankers, before they happen. Remember when this crisis started last year, and everyone was admiring how GS had correctly shorted the market?Comment -
dont sell im telling you!Comment -
Are you day trading? If so thats greasy.
Buy and hold.Comment -
yeah I can get a deal on stock options. I work for Aegon I predict in 3-8 years I will be able to unload at a profit. I put 5k down on it. Hopefully that works out.
Especially with our thing coming up this fall
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I started buying Proshares Financial (UYG).
Set amount every week, or buy on a big dip.
See you in 5 years.
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I'm tempted to buy some General Motors...Figure they will get bought or bounce back big.Comment
