Bank Failures
Turns out bank failures are not that common:
Source: FDIC Failed Bank List
- 2008 : 11, to date
- 2007: 3
- 2006: 0
- 2005: 0
- 2004: 0
- 2003: 3
- 2002: 11
- 2001: 3
- 2000: 2
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"The price of anything is the amount of life you exchange for it." Henry Thoreau
Turns out bank failures are not that common:
Source: FDIC Failed Bank List
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damn, you are becoming a bull.
If you look at the 90 cycle(Which I point out all the time, You can’t liken this cycle to any cycle)…. But, half the bank failures happened by this time in the buisness cycle.
It’s possible that the cycle is slower this time, and maybe we are less than half way through…. But…. In the 90 cycle, half the failures had happend by this time. Even if they Tripple…… It’s a Yawn event.
of course you never know.
Not true
Still pretty sure this is not the final bottom.
But I’m definitely trying to be realistic, and if we’re going to have a bounce, why not play it?
You said you wanted to pick up WFC – for a trade or long term?
Dow Jones +247.00 !!!
What are they going to do during the day? run it up 600 points?
I picked it up long term, In fact I traded some crappy regionals, cashed some of them in, to pick up WFC long term, I have picked up wfc under 30 for 2 months.
If you want “Hot” bank trades RF and FTtb are very hated banks by the bears. I was trying to stiff the shorts with those at like 30% to cover. They wern’t going for it… and I wasn’t the only person with that idea.
I’m head scratching about tomorrow… You know they will buy materials stocks with both hands.
and we could see some MASSIVE Short covering..
Watch volumes… that is the key.
I’ll slap a lose follow stop on what I own, if they can’t sell in in the first 30 minutes… look for them to try at 11….. then I don’t know.
Options expiration next week will be interesting….
If you buy WFC, when people talk to you and call you a Day trader…. You can say “I trade some” but my investment philosophy is the same as Warren Buffett, we own some of the same holdings.
FYI I don’t like Warren Buffett, personality-wise, so when you compare yourself to him, I hope you only mean that you follow a similar investing strategy… (This is so irrelevant.)
Clearly we’re going to gap up huge. But the gap has to fill quickly. People are nervous, they’ll be quick to take any profits.
Financials are building a base, I’ll give you that, but will keep my UYG short and possibly add to it. However at the open, I will short SKF.
We’ll probably open at overbought levels, this is ridunculous.
For some reason I’d be ashamed to tell anyone I trade stocks. I haven’t figured out “why” yet.
LOL… I still havn’t figured out what to do…. I may toss a few hundred shares long a few banks…. There are a few people short banks that are sweating the 10% pop all the banks are getting.
some of the Euro exchange systems, are having a hard time with the overload.