Wamu Stock

[Kevin Mc]

If you like Warren Buffet you can buy into Wells Fargo....

I would say they are in the sights of the short sellers. I know they are, along with FHA.

 

[Eli Weiss]

I would say they are in the sights of the short sellers. I know they are, along with FHA.

I agree with you Kevin, most of the fraud flips I have seen lately (post sub-prime collapse) were funded by Wells Fargo, we have discussed some of them on the NY blog...

I wonder why Warren picked them, he is known to see beyond what the typical eye can see...

 

[MARK JOLLIFF]

Let me give you some tips.......

If you are looking to short the financials, then play this stock http://finance.yahoo.com/q?s=SKF they will do the job for you, so you don't have to buy the short and then cover it....

if you like to invest in alternate energy, check out
http://finance.yahoo.com/q?s=fslr
http://finance.yahoo.com/q?s=csiq

Don't look at what they did today, look at the overall chart, if you know how to read them....

I've owned SKF before and got out with a nice gain. I was looking at it a while back at $90 and didn't pull the trigger. I looked again at $150 and said too expensive. what is it now... $200? I could kick myself!! Great way to short the financials but I think I missed the bus this time around!

 

[Vernon Martin]

I've owned SKF before and got out with a nice gain. I was looking at it a while back at $90 and didn't pull the trigger. I looked again at $150 and said too expensive. what is it now... $200? I could kick myself!! Great way to short the financials but I think I missed the bus this time around!

SKF might still have some upside potential if you consider that some financial stocks might be headed to zero. Anyone who would have shorted IMB would have made a 100% return, no matter what point they shorted the stock at. I wanted to short IMB, too, but didn't want to be accused of insider trading.

 

[Eli Weiss]

Actually I am not a fan of shorting financials, its being abused big time and is causing more damage to our bleeding economy, and in a way its blood money...
So I will support this.

SEC to fight short selling of financials
http://www.ft.com/cms/s/0/d28fc66a-52a9-11dd-9ba7-000077b07658.html?nclick_check=1

Its obvious that banks are having major loses, and its not fun to add salt to the injury....
I believe short selling financials have the power to close down powerful financial institutions.

 

[MARK JOLLIFF]

Actually I am not a fan of shorting financials, its being abused big time and is causing more damage to our bleeding economy, and in a way its blood money...
So I will support this.

SEC to fight short selling of financials
http://www.ft.com/cms/s/0/d28fc66a-52a9-11dd-9ba7-000077b07658.html?nclick_check=1

Its obvious that banks are having major loses, and its not fun to add salt to the injury....
I believe short selling financials have the power to close down powerful financial institutions.

There's nothing wrong at all with shorting a stock. What is wrong is shorting a stock and then telling false rumors to get it to drop. No one ever complains about people shorting when the market is going up and there is a short position on every stock at some time or another. It's just a bet on direction is all.Besides no one complains when short covering causes the market to rise either.

 

[Vernon Martin]

Actually, bank failures are not caused by movements in their stock prices but by insolvency. The stock price is just a reflection of what the market already thinks of the institution. Besides, SEC doesn't allow short selling of stocks priced below $5, which should actually have protected IMB, and is now protecting WAMU and Downey from short selling.

 

[Kevin Mc]

I believe short selling financials have the power to close down powerful financial institutions.

some of them deserve to be shut down. The fact that many have gone under has absolutely nothing to do with short sellers. The short sellers are just there to pick the meat off the bones, nothing more.

 

[Claude From NY]

There is nothing wrong or unethical about short selling. In fact it is an important element in the market that keeps overpriced bull markets in check and adds liquidity to the market. Also, the research that short sellers do is top notch. Not the boilerplate BS that that the employees of many brokerage houses put out.

There are a few short seller hedge funds that are well known for their excellent investigative analysis and have taken short positions just as the stress cracks start forming but well before the collapse of many financial cos.

 

[Mike Boyd]

I agree with you Kevin, most of the fraud flips I have seen lately (post sub-prime collapse) were funded by Wells Fargo, we have discussed some of them on the NY blog...

I wonder why Warren picked them, he is known to see beyond what the typical eye can see...

He may think they will be the last bank standing! LOL