It’s quite brazen, you must admit. Now that the Bush administration has declared Al Qaeda to be active short sellers in our banks, I think it’s safe to assume they will now rifle them higher.
What a difference one day makes, no?
Courtesy of The PPT, I ran a screen for financials, priced above $5, with a high percentage of shares sold short.
BEHOLD:
| Ticker | % Short |
| (FED: 17.24 +45.49%) | 80.7 |
| Greenhill & Co., Inc. (GHL: 85.00 +18.88%) | 51.9 |
| East West Bancorp, Inc. (EWBC: 16.13 +16.88%) | 43.9 |
| Zions Bancorporation (ZION: 45.22 +25.65%) | 41.8 |
| Colonial BancGroup, Inc. (CNB: 10.50 +42.08%) | 37.8 |
| Redwood Trust, Inc. (RWT: 27.00 +31.64%) | 35.4 |
| Bank of the Ozarks, Inc. (OZRK: 30.94 +13.62%) | 34 |
| Provident Bankshares Corporation (PBKS: 10.61 +33.96%) | 34 |
| World Acceptance Corp. (WRLD: 38.00 +14.18%) | 33.8 |
| LandAmerica Financial Group, Inc. (LFG: 21.16 +11.37%) | 33.8 |
| First Industrial Realty Trust, Inc. (FR: 31.00 +15.63%) | 33.7 |
| (AXR: 46.46 +9.83%) | 32.6 |
| JER Investors Trust Inc. (JRT: 6.35 +9.48%) | 32.3 |
| Arbor Realty Trust, Inc. (ABR: 10.20 +33.51%) | 32 |
| Ambac Financial Group, Inc. (ABK: 6.67 +15.60%) | 31.8 |
| Maguire Properties, Inc. (MPG: 7.45 +4.78%) | 31.5 |
| MBIA Inc. (MBI: 14.00 +44.18%) | 31.1 |
| UCBH Holdings, Inc. (UCBH: 6.53 +12.78%) | 30.1 |
| Cathay General Bancorp (CATY: 29.02 +14.57%) | 30.1 |
| Cohen & Steers, Inc. (CNS: 29.76 +12.22%) | 29.9 |
| Capital Trust, Inc. (CT: 10.34 +5.73%) | 28.9 |
| Northstar Realty Finance Corp. (NRF: 7.67 +12.63%) | 28.8 |
| First Horizon National Corporation (FHN: 13.20 +20.55%) | 28.8 |
| RAIT Financial Trust (RAS: 6.50 +10.36%) | 28.8 |
| Green Bankshares, Inc. (GRNB: 20.80 +11.47%) | 26.7 |
| (EVR: 14.00 +6.30%) | 26.5 |
| Anthracite Capital Inc. (AHR: 5.85 +14.26%) | 25.8 |
| Huntington Bancshares Incorporated (HBAN: 10.50 +28.99%) | 25.7 |
| Umpqua Holdings Corporation (UMPQ: 19.00 +11.70%) | 25.4 |
| LoopNet, Inc. (LOOP: 11.32 +12.08%) | 25.1 |
| First BanCorp. (FBP: 11.01 +18.39%) | 24.9 |
| PrivateBancorp, Inc. (PVTB: 42.99 +15.47%) | 24.7 |
| Hanmi Financial Corp (HAFC: 5.20 +7.88%) | 24.6 |
| The St. Joe Company (JOE: 38.65 +3.98%) | 24.5 |
| United Community Banks, Inc. (UCBI: 17.19 +23.14%) | 24.1 |
| Frontier Financial Corporation (FTBK: 17.50 +50.34%) | 24 |
| TCF Financial Corporation (TCB: 21.00 +13.21%) | 23.5 |
| Banner Corporation (BANR: 17.51 +39.97%) | 22.7 |
| Federal Realty Inv. Trust (FRT: 84.75 +11.90%) | 22.6 |
| Tanger Factory Outlet Centers Inc. (SKT: 43.35 +9.19%) | 22.6 |
| The South Financial Group (TSFG: 10.16 +20.52%) | 22.5 |
| Old Second Bancorp Inc. (OSBC: 22.00 +12.13%) | 22.4 |
| Cascade Bancorp (CACB: 11.00 +28.06%) | 22.4 |
| National Penn Bancshares, Inc. (NPBC: 17.50 +23.07%) | 22.4 |
| Central Pacific Financial Corp. (CPF: 18.70 +34.15%) | 22.1 |
| Synovus Financial Corp. (SNV: 11.00 +7.32%) | 22 |
| Life Partners Holdings, Inc. (LPHI: 32.39 +5.68%) | 21.9 |
| AmeriCredit Corp. (ACF: 11.26 +15.37%) | 21.9 |
| Old National Bancorp (ONB: 23.64 +14.09%) | 21.7 |
| Seacoast Banking Corporation of Florida (SBCF: 11.65 +26.63%) | 21.1 |
| Digital Realty Trust, Inc. (DLR: 48.00 +11.55%) | 21 |
| Glimcher Realty Trust (GRT: 9.88 +1.75%) | 20.6 |
| AvalonBay Communities, Inc. (AVB: 98.46 +8.53%) | 20.5 |
| Wilmington Trust Corporation (WL: 29.64 +17.62%) | 20.5 |
| National Financial Partners Corp. (NFP: 23.00 +20.42%) | 20.5 |
| WestAmerica Bancorp. (WABC: 64.68 +12.04%) | 20.4 |
| Wintrust Financial Corporation (WTFC: 32.81 +17.01%) | 20.1 |
| Raymond James Financial, Inc. (RJF: 30.69 +9.61%) | 19.8 |
| Capital One Financial Corp. (COF: 54.00 +16.53%) | 19.8 |
| Popular, Inc. (BPOP: 10.50 +31.25%) | 19.8 |
| Interactive Brokers Group, Inc. (IBKR: 19.66 +1.76%) | 19.7 |
| (CACC: 19.99 +14.49%) | 19.7 |
| American Capital Ltd. (ACAS: 24.08 +29.46%) | 19.1 |
| Whitney Holding Corp. (WTNY: 27.28 +20.71%) | 19 |
| First Commonwealth Financial (FCF: 15.00 +20.97%) | 18.7 |
| Home Properties, Inc. (HME: 58.19 +9.79%) | 18.7 |
| Glacier Bancorp, Inc. (GBCI: 27.34 +17.04%) | 18.7 |
| Boston Private Financial Holdings Inc (BPFH: 10.45 +8.63%) | 18.6 |
| Assured Guaranty Ltd. (AGO: 14.23 +9.13%) | 18.3 |
| (CCBG: 34.50 +19.54%) | 18.3 |
| Susquehanna Bancshares, Inc. (SUSQ: 22.97 +19.51%) | 18.2 |
| Western Alliance Bancorporation (WAL: 25.75 +63.49%) | 18 |
| Cousins Properties Inc (CUZ: 26.25 +12.85%) | 18 |
| Great Southern Bancorp, Inc. (GSBC: 14.10 +40.72%) | 18 |
| Essex Property Trust, Inc. (ESS: 129.00 +14.87%) | 17.8 |
| Comerica Incorporated (CMA: 36.58 +16.68%) | 17.8 |
| Tower Group, Inc. (TWGP: 23.20 +12.19%) | 17.5 |
| MGIC Investment Corp. (MTG: 9.50 +74.63%) | 17.4 |
| KBW, Inc. (KBW: 37.50 +37.97%) | 17.3 |
| Associated Banc-Corp (ASBC: 23.86 +17.36%) | 17.1 |
| Asset Acceptance Capital Corp. (AACC: 11.64 +12.46%) | 16.9 |
| BRE Properties, Inc. (BRE: 48.21 +9.05%) | 16.7 |
| Prosperity Bancshares, Inc. (PRSP: 35.99 +11.70%) | 16.7 |
| Entertainment Properties Trust (EPR: 57.54 +9.35%) | 16.6 |
| Realty Income Corp (O: 30.32 +17.20%) | 16.5 |
| BB&T Corporation (BBT: 39.50 +11.46%) | 16.5 |
| Marshall & Ilsley Corporation (MI: 22.98 +29.10%) | 16.3 |
| First Midwest Bancorp, Inc. (FMBI: 29.36 +13.93%) | 16.2 |
| Post Properties, Inc. (PPS: 29.65 +9.25%) | 15.9 |
| Dollar Financial Corp. (DLLR: 16.93 +1.62%) | 15.8 |
| Capitol Bancorp Ltd. (CBC: 20.76 +36.13%) | 15.7 |
| American Equity Investment Life Holding (AEL: 9.11 +8.19%) | 15.6 |
| Camden Property Trust (CPT: 50.84 +11.03%) | 15.6 |
| CIT Group Inc. (CIT: 10.70 +49.65%) | 15.5 |
| Strategic Hotels & Resorts Inc. (BEE: 9.27 +13.05%) | 15 |
| Advanta Corp. (ADVNB: 8.61 +19.42%) | 14.8 |
| CoBiz Financial Inc (COBZ: 12.07 +16.28%) | 14.6 |
| M&T Bank Corporation (MTB: 90.10 +16.18%) | 14.5 |
| Healthcare Realty Trust Incorporated (HR: 30.50 +8.81%) | 14.4 |
| First Busey Corporation (BUSE: 20.77 +25.80%) | 14.4 |
| (AGNC: 17.83 +6.32%) | 14.3 |
| Wilshire Bancorp, Inc. (WIBC: 13.78 +9.02%) | 14.3 |
| Chemical Financial Corporation (CHFC: 35.16 +19.51%) | 14.2 |
| Hancock Holding Company (HBHC: 57.11 +15.07%) | 14.2 |
| Colonial Properties Trust (CLP: 19.27 +11.13%) | 14.2 |
| XL Capital Ltd. (XL: 18.15 +11.90%) | 14.1 |
| Financial Federal Corporation (FIF: 25.26 +6.22%) | 13.9 |
| National Retail Properties, Inc. (NNN: 23.93 +9.17%) | 13.9 |
| Jefferies Group, Inc. (JEF: 21.44 +11.03%) | 13.8 |
| West Coast Bancorp (WCBO: 13.85 +13.62%) | 13.7 |
| General Growth Properties, Inc (GGP: 19.92 -2.21%) | 13.6 |
| Acadia Realty Trust (AKR: 24.73 +3.43%) | 13.6 |
| Kimco Realty Corporation (KIM: 40.69 +13.75%) | 13.4 |
| United Bankshares, Inc. (UBSI: 34.50 +18.07%) | 13.4 |
| Regions Financial Corporation (RF: 14.60 +34.31%) | 13.3 |
| SVB Financial Group (SIVB: 59.41 +9.21%) | 13.3 |
| Piper Jaffray Companies (PJC: 35.45 +5.10%) | 13.2 |
| CBL & Associates Properties, Inc. (CBL: 21.40 +1.66%) | 13.2 |
| CapitalSource, Inc. (CSE: 13.50 +22.95%) | 13.1 |
| Texas Capital Bancshares, Inc. (TCBI: 20.36 +7.78%) | 13.1 |
| First Financial Bankshares, Inc. (FFIN: 56.72 +7.71%) | 13 |
| Corporate Office Properties Trust (OFC: 42.00 +12.57%) | 13 |
| S&T Bancorp, Inc. (STBA: 39.91 +17.35%) | 13 |
| Knight Capital Group Inc. (NITE: 15.56 +5.92%) | 12.9 |
| Taubman Centers, Inc. (TCO: 52.83 +11.55%) | 12.9 |
| AMB Property Corporation (AMB: 50.45 +5.94%) | 12.9 |
| City National Corporation (CYN: 65.35 +22.40%) | 12.8 |
| Sandy Spring Bancorp Inc. (SASR: 21.50 +12.33%) | 12.8 |
| Sunstone Hotel Investors, Inc (SHO: 14.88 +10.30%) | 12.8 |
| MF Global Ltd. (MF: 5.63 +8.48%) | 12.7 |
| Weingarten Realty Investors (WRI: 40.00 +24.11%) | 12.6 |
| Fortress Investment Group LLC (FIG: 10.45 +0.97%) | 12.6 |
| Parkway Properties, Inc. (PKY: 41.89 +14.77%) | 12.6 |
| SL Green Realty Corp. (SLG: 69.67 +4.61%) | 12.6 |
| Wachovia Corporation (WB: 14.50 +58.99%) | 12.6 |
| Anchor BanCorp Wisconsin Inc. (ABCW: 9.27 +19.00%) | 12.5 |
| F.N.B. Corporation (FNB: 17.50 +21.61%) | 12.5 |
| Apartment Investment and Management Co. (AIV: 34.27 +11.67%) | 12.5 |
| PHH Corporation (PHH: 14.22 +10.40%) | 12.4 |
| eHealth, Inc. (EHTH: 14.45 +4.11%) | 12.4 |
| BancorpSouth, Inc. (BXS: 28.22 +10.32%) | 12.3 |
| IBERIABANK Corporation (IBKC: 59.88 +5.03%) | 12.3 |
| Park National Corporation (PRK: 79.57 +25.25%) | 12.3 |
| Nara Bancorp, Inc. (NARA: 14.75 +7.98%) | 12.3 |
| Gramercy Capital Corp. (GKK: 4.44 -8.45%) | 12.2 |
| Pennsylvania R.E.I.T. (PEI: 22.75 +16.31%) | 12.2 |
| Bank of Hawaii Corporation (BOH: 61.50 +12.43%) | 12.2 |
| (FSBK: 17.85 +18.60%) | 12.1 |
| (FSNM: 7.81 +18.87%) | 12 |
| Developers Diversified Realty Corp. (DDR: 33.49 +5.95%) | 11.9 |
| CB Richard Ellis Group, Inc. (CBG: 13.69 +4.50%) | 11.9 |
| Equity One, Inc. (EQY: 22.48 +11.67%) | 11.9 |
| Trustmark Corporation (TRMK: 28.50 +27.12%) | 11.8 |
| Equity Lifestyle Properties, Inc. (ELS: 52.12 +8.09%) | 11.8 |
| LaSalle Hotel Properties (LHO: 29.80 +16.91%) | 11.8 |
| Penson Worldwide, Inc. (PNSN: 13.16 -0.45%) | 11.8 |
| Brookline Bancorp, Inc. (BRKL: 12.59 +12.61%) | 11.8 |
| Host Hotels & Resorts, Inc. (HST: 17.00 +25.37%) | 11.8 |
| Webster Financial Corporation (WBS: 22.99 +6.14%) | 11.8 |
| RLI Corp. (RLI: 59.92 +4.10%) | 11.7 |
| Alliance Data Systems Corporation (ADS: 57.34 +7.50%) | 11.7 |
| Stewart Information Services Corporation (STC: 28.51 +8.78%) | 11.7 |
| Federal Agricultural Mortgage Corp. (AGM: 14.88 +41.18%) | 11.6 |
| Kite Realty Group Trust (KRG: 10.50 +0.67%) | 11.6 |
| Alexandria Real Estate Equities, Inc. (ARE: 113.95 +9.73%) | 11.5 |
| Oriental Financial Group Inc. (OFG: 20.99 +15.71%) | 11.4 |
| (UBFO: 17.00 +11.33%) | 11.3 |
| ProLogis (PLD: 41.35 -2.80%) | 11.3 |
| Extra Space Storage, Inc. (EXR: 17.41 +16.85%) | 11.3 |
| (AMFI: 9.82 +14.59%) | 11.2 |
| FirstMerit Corporation (FMER: 26.17 +19.01%) | 11.1 |
| U.S. Global Investors, Inc. (GROW: 8.36 +4.63%) | 11.1 |
| FPIC Insurance Group, Inc. (FPIC: 56.08 +13.84%) | 11 |
| Apollo Investment Corp. (AINV: 17.10 +15.85%) | 11 |
| Fulton Financial Corp. (FULT: 13.88 +13.49%) | 11 |
| Sterling Bancshares, Inc. (SBIB: 11.72 +11.51%) | 11 |
| Ocwen Financial Corporation (OCN: 7.26 +5.83%) | 10.9 |
| Home BancShares, Inc. (HOMB: 31.23 +16.75%) | 10.9 |
| FCStone Group, Inc. (FCSX: 15.85 +4.76%) | 10.8 |
| Janus Capital Group Inc. (JNS: 24.23 +13.17%) | 10.8 |
| Regency Centers Corporation (REG: 70.80 +12.65%) | 10.8 |
| Montpelier Re Holdings Ltd. (MRH: 16.64 +1.96%) | 10.8 |
| Thomas Weisel Partners Group, Inc. (TWPG: 7.03 +4.61%) | 10.7 |
| FelCor Lodging Trust Incorporated (FCH: 8.01 +13.30%) | 10.6 |
| First Financial Bancorp (FFBC: 14.80 +17.18%) | 10.6 |
| Sun Communities, Inc. (SUI: 19.95 +5.28%) | 10.6 |
| Cedar Shopping Centers Inc (CDR: 12.98 +0.85%) | 10.6 |
| National Interstate Corporation (NATL: 21.15 +11.43%) | 10.6 |
| MainSource Financial Group Inc. (MSFG: 20.00 +8.64%) | 10.6 |
| Stifel Financial Corp. (SF: 45.85 +9.74%) | 10.6 |
| Legg Mason, Inc. (LM: 37.00 +4.25%) | 10.4 |
| Sterling Bancorp (STL: 17.48 +14.62%) | 10.4 |
| Highwoods Properties, Inc. (HIW: 35.22 +7.64%) | 10.4 |
| UMB Financial Corporation (UMBF: 59.00 +13.22%) | 10.4 |
| (EPHC: 10.77 +3.56%) | 10.3 |
| Allied Capital Corporation (ALD: 14.02 +14.17%) | 10.3 |
| Inland Real Estate Corporation (IRC: 15.49 +3.61%) | 10.1 |
| SunTrust Banks, Inc. (STI: 55.05 +15.58%) | 10.1 |
Check out the lack of big-ticker name financials on there… all the shorts must have gotten ripped out post-3pm today.
Fly you trading this as a counter trend rally or a bottom?
I hate to admit it, but this one felt kind of “bottomish,” with GS and MS on the precipice and all.
It would make for a fairy tale bottom.
One day at a time.
anybody gonna nibble on some AIG tomorrow, it was up like 35+% today?
Vix peaked at 42 and change today… Gio called it with perfection.
As much as I loathe financials with a passion that borders on insanity, I think it’s time to shelve SKF for a while
Time to get egregious with C.
The Gov’t will goose step that fucker to $25 in no time.
Fly what gives?
You have been making thoughtful and somewhat intelligent posts lately. Don’t make me start liking you. I’m not sure I could take that….
P.S.
Your tabbed contributors are great, throw them a bone.
When the music plays you dance.
Fly don’t stress yourself…are you back at the gym doing crunches?
The Fly is a Space Alien Jesus
What is the play for someone who isnt as nimble as Fly and is holding a basket of regional bank shorts…..cover first thing in the morning or stay tight.
Jarret:
Get long C or KRE or RKH.
If you cannot afford to hedge, wait for the market to fade a little, then look to cover.
Else get some hedges quick.
Also, the list above is a good place to look for stocks.
Thanks Fly as I appreciate the reponse.
I stood around frozen this afternoon though hindsight is always 20/20.
Thanks for the list and I am looking forward to subscibing to the new PPT tool.
Have lots of gun powder to hedge so tommorow will be an active day.
Good shit.
Thanks.
-DT
http://littlecountrylost.blogspot.com/2008/01/benazir-bhutto-omar-shiekh-murdered.html
Whatever you do don’t put a market order in for KRE until about 9:40 or therafter if you so choose. The market maker will make sure you get a bad fill. I have traded KRE at least 500 times and learned my lessons a long time ago.
So even if there is a gap up significantly tommorrow, you would still be buying the banks and holding through the weekend? It’s not too late to buy on a major gap up?
I’m a little worried that the extreme volitility of no shorting allowed is going to cause a huge spike up, and then some major profit taking, and then some major selling, and then a panic frenzy. Volitile markets are not ones that people want to hold stocks in, so isn’t the massive short squeeze, just going to launch everything straight up, and then straight down?
tanks trader caddy, I think the same can be said for many financial etfs like the UYG as well.
So Fly, what is the premium PPT gonna be all about? Just cause I almost beat you in a contest doesn’t mean i know what i’m doing. Like Jarret, I need someone to give strong guidance as to what to do and when. And I’m not gonna go to Mer, Leh, GS, etc. Stocks is not like watching real estate appreciate you know.
Government sponsored spray-squeeze cheese:
http://en.wikipedia.org/wiki/Easy_Cheese
Kraft should put Paulson’s face on the spray cheese can in honor of its ascension to the Dow today. It all fits.
Is LPHI (Life Partners Holdings, Inc.) a gay bank? Not that there is anything wrong with that (apologies to Seinfeld).
The above remarks are the reason why The Fly, is The Fly.
It takes huge balls to suddenly reverse your Armageddon trade, then plant 1.5m in fucking CitiBank. Oh … that’s the company that was going bankrupt … remember that debate?
Well Fly, bravo … your bet in C will likely turn out to be brilliant. Fucking brilliant.
The PPT is going to be a kick ass software program, which has been in development for 4 months, that will rank stocks, based upon models I use.
In other words, it is my brain put onto software.
In addition, there will be custom screening abilities and charting.
Finally, I and everyone on the site will take a little extra time to be hands on with subscribers. In others words, I will act like I give a fuck, instead of outright telling you to blow a mule.
And lots of other stuff too.
Stay tuned.
In everyones experience, will the KRE,RKH,C combo already have a huge day priced in the premarket(greater than the futures)or will they still run on the open.
Does anyone see tommorow as a potential headfake and the short covering rally only lasting a few hours before some large selling occurs.
On a side note I thought the govt was out of bullets after FNM and FRE but they have shown this week that is not the case.
Fly,
What’s gonna happen to the inverse ETFs should this crap about no short selling go down?
-DT
What if C makes a bid for WM . Will that not affect the stock negatively ?
Dinosaur Trader….it is my understanding that SKF etc dont actually hold short stock so it should make them more used as well a little more action packed
DT- I am sure they use derivatives and fancy stuff like that. Which reminds me that perhaps CME will gap up big if no short selling will be allowed as the hedgies will turn to shorting index futures. Just a guess.
Indeed, if they’re going to become the only way to short stock, the volume in them is gonna explode.
-DT
Great guidance and laughs from the site this week.
Picked up SRS Sep 80 call at the bell. You bitches are sounding bullish and now I think maybe I should unload it asap tomorrow. Probably just enjoy the ride.
Maybe I will wake up to another new world order, courtesy of our neo-communists in DC.
“Taking it public” has a whole new meaning with these asshats in charge.
The real beauty is that the general public is too stupid to see how they are getting screwed. Blame it on al-qaeda. Pure genius. See ya in the hamptons.
If puts are the only way to get short, premiums on put options expload, while people start to cover their longs by buying calls.
No hedges available, that means only things like options to hedge… That, and buying gold…
Hey Fly, great screen, what do you think about speculating on the banks with the largest debt/equity ratio that you put out earlier. If the govt buys out the bad debt and all that nasty debt is removed… all that’s left is the equity, and that means the stock goes gangbusters, no?
Fly… What’s subscriber status gonna cost? Two Romanian goats and our first born?
I am The PPT. I manage an infinite amount of money.
TraderCaddy: LPHI is boned. The stock may (or may not) bounce, but they’re fucked. The settlement markets had a Chernobyl-style meltdown this week.
Subscription will be cheap. Well, actually, some of you are half way homeless; so anything over $1 is expensive.
Nonetheless, I will make an effort to make it available for all.
After all, Woodshedder needs a new guitar.
“It would make for a fairy tale bottom.” Fly, are you serious about a bottom forming here?
One of my pet peeves is “percentage of shares short.” The better metric is usually going to be “days to cover” – the ratio of shares short to average daily volume.
I say “usually” because in the current situation, with average daily volumes out the window, percentage of shares short is probably as good as it gets.
In normal times, though, days to cover is a better indicator of short squeeze potential.
FWIW.
DT and others –
If you go the Proshares website (http://www.proshares.com/funds/skf.html for SKF) and download the CSV file that has the daily holdings of the funds, you will see that the double shorts merely hold inverse swaps with the index ETF.
so yes, it is a derivative, although a vanilla one. It should be working fine tomorrow (in essence, it will continue to return exactly twice the opposite of the DJUSFIN index.
I encourage everyone playing around in SKF and SRS to take a serious look at the holdings that make up those two ETF’s. SRS in particular is largely weighted towards some very strong property management companies – which is why you haven’t seen it go batshit crazy like SKF.
Teeth, too. I need some new fucking teeth also.
Thanks Fly, some of us at least me are small
investors.
I hope you and Option addict/tradingaddicts get into a bidding war for who’s cheaper… $0.02 a month each!!!!
Indeed, if they’re going to become the only way to short stock, the volume in them is gonna explode.
Exactly. Many inverse ETFs use futures or options to short, so they should still work just fine. Or, you could just avoid the middleman and short the futures directly.
it’s not a matter of who’s cheaper, but who’s better.
Fly,
Please don’t tell them you give a fuck until after the weekend.
I have a big date.
Are our leaders really this fucking stupid? Considering a temporary ban on short selling? Shorts bring price stability. I can’t stand these election season stunts these douche bags pull.
Fly, how much money do you manage? Was it the RTC or this that caused you to reverse directions … Just asking
SEC News:
The U.S. Securities and Exchange Commission may require hedge funds to disclose their short-sale positions and plans to subpoena the funds’ communication records in an effort to stem turmoil in stock markets.
Hedge funds and investors managing more than $100 million in securities would be “required to promptly begin public reporting of their daily short positions,” Chairman Christopher Cox said in a statement late yesterday. The agency will obtain “disclosure from significant hedge funds” regarding “past trading positions in specific securities,” Cox said.
“Subscription will be cheap. Well, actually, some of you are half way homeless; so anything over $1 is expensive.
Nonetheless, I will make an effort to make it available for all.
After all, Woodshedder needs a new guitar.”
LMFAO!
Yer bad, in a good way.
Fly,
I am stuck holding too much of SRS at an egregious valuation.
Worth holding for a few months till things get worse, or take the pain and sell?
This sounds great, my daughter and I actually have some goats. We had cabrito (bar-b-qued kid) for supper. Can we trade some white Kashmir kids (yearlings) for a subscription.
If shorts are denied their role in the markets, watch for the market to act like other markets which don’t have shorts. Look how the Hang Seng or Shanghai indicies move 5% *daily*. Perhaps some serious Long Volatility plays are in order? VIX permanently above 30 or some horseshit like that.
Can I borrow your new teeth, Shed? My rhinestone ones are dull.
WTF is going on here? This proposed ban on short selling is the most asinine thing I’ve ever heard. It is absolute lunacy. What the hell happened to the fundamental tenets that this country was built upon? The SEC is an abomination. When did it ever become incumbent on the government to meddle with the sacred ideas of free markets and capitalism to bail out degenerate corporations? When did it become permissible to alter the rules of the game just because the outcome was not amenable to the mentally challenged buying LEH, LM, and the like? Paulson, Cox, and et. al should all have their eyebrows punched off. Well I guess I’ll just follow your coat tail again senor Fly and pick up some C. I guess I owe you a couple of drinks for all the coin I banked with your SKF and LM plays. Fuckem all Fly fuckem all.
Looks like our government will do anything at their disposal to keep these accomulated bubbles from crashing for another day – including the nuclear option – whatever that might be. And they can dream up lots of options.
I don’t think they have a long term plan – just get thru one day/week at a time.
Some day we will all pay, but not yet.
Fly, an amazing reversal today. imo that’s why we are all here – you are able to figure out what’s going on quickly and react (and let us know the latest)
Stop questioning fuckers. There is nothing that can be done. Get on. Bank egregious coin. Who cares whether it’s on the long side or short?
Banks going higher. Hank and Ben say so.
I currently own SIVB, CFR, USB, WFC, BAC and C.
Thanks for the PPT list, Fly.
1-3 days of pain for srs.
Buy on weakness. Get avg cost down.
The RTC like nuclear waste dump could be a big story here. Shorting banks on this is nuts.
If they do the rtc- good bank/bad bank thing you then short the dollar and go long banks is how I see it. But then who am I? I’m no fucking genius like the Fly.
$NAUD, is off the chart–If the market starts out pre-market gapped up, go to short sell immediately–
You’re either up way late or up way early, East Coast time.
But then, you’ve got a time machine.
Thanks.
http://www.youtube.com/watch?v=GDfToFcJ2J4
I got violated from behind then punched in the face, then violated again up the rear, and when I thought it was over, was punched in the face again.
Yes my Master, Darth Fed…I will do as you command from now on. I have learned the power of the Dark Side of the Force. I must join you or be destroyed.
Anybody see that insanity going on in Russia?! Stock market halted because it was going UP too quickly!
Take note, comrades, that is where we’re heading next. Constant government interference with the ‘free’ market economy. Woo!
Odd, LM is not on the SEC list of unshortables. See, everybody hates Bill Miller.
Somebody got seriously shafted in LM with that $51 tick today. He now also hates Billy Miller (even more).
FTSE index +8.3%
Are you kidding???
This move is gonna break me.
So much for “locating” stock today.
-DT
Thursday was my best month ever.
Never underestimate a caged animal who used to run Goldman Sachs.
Forget about the politics of the move and trade the hand you are dealt.
The AIG move was the tell that they would stop at nothing to arrest the financial death spiral.
Fly, any ideas on the impact of non-financial financials [sic] with CDS exposure, such as GE, which are not on the SEC no short list? Will the money allocated to the short side in market neutral hedge funds (and short only funds) be further concentrated and start to vaporize previously immune weak companies?
Fly, given that time machine allowed you pick up C at a great time what does it tell you about the market today….open up 300 and go to 600 or open up at 300 and go to 100?
WTF, the fly just made $500,000 overnight in C even while he sleeps. The Fly always wins, even when he appears to be losing badly.
Futures just broke through 1250! Short’s are going to learn a painful lesson.
Well, the first group went off at The Ryder Cup on ESPN. Something to watch instead of CNBC.
We all need to strike! Let’s stop the motor of our government!
LM is definitely not on the SEC list:
http://www.sec.gov/rules/other/2008/34-58592.pdf
The Fly is on the list, however.
Galt-man,
Be sure and get back to us on how that “stopping the motor of government” thing works out for you.
MS is up 50%. This is bullshit. FUCK
FLY,
Beautiful move on reversing and going long C! Congrats on that one!
This is crazy, every financial is going to gap up to the moon….GS already up 30 points!
Good morning, everyone. I went short China via FXP premarket at 90.25. This manipulation by the government will have unintended consequence that I believe will be come evident quite sooner rather than later. They have just ensured a crash via this move. Government intervention via market manipulation has a tendency to have impacts that are increasingly mitigated the more they are implemented. We are well into extra innings when it comes to moves on the part of the Fed and I believe its intended effects will wear off rather quickly. Just my opinion. What do I know, I’m a lowly college student….lol that was just trying to tackle algebra at the time of the ’98 financial crisis. Off to class.
What a move, that’s why people want to pick bottoms.
Locking in some gains here, short /NQZ8 to hedge.
I thought republicans were for free markets and despised govt. intervention? Oh, I guess that is only when times are good…funny how they cling to it like a security blanky when times aren’t…..
SKF hit 52 week low, UYG ~40% from 52 week high.
Odd no?
Scamming ETF’s
Did anyone noticed this is THE SECOND TIME, they done this shit on options expiration day?
Seriously, what the hell is wrong with them?
Anyhoo, I think this rally will last a while.
Wouldn’t you say ABK/MBI is a good buy here? They are basically getting made whole by the government no?
WAMU is going to double digits.
Here’s some Dougie Kass thoughts:
U.S. Treasury to Insure Happiness
9/19/2008 8:38 AM EDT
Regulation is now running amok.
I am out of my trading long rentals now and SHORTING the premarket ramp.
The PPT has really outdone itself this time.
“The System is Rigged” should get his own tab, just for that name.
Truer words, never spoken.
I’ve never been more frightened for my children than while watching Paulson, Bernake, Pelosi and Reid — with Shumer blinking spastically in the background — standing up there telling us how this was “all for the best.”
I shit you not, prepare for the Great(er) Depression.
We need a new American Revolution ovah heah, but first, be sure to buy a lot of gold.
__
KRE (regional bank etf) up well over 100% since summer low.
At least Kass can still short LM, and buy SRS.
For now.
so will we missed the move?
Time to get shiort, errr buy inverse etfs at gap up?
SRS going to zero.
Got a time frame for when this “Great(er) Depression” plays out JakeGint?
Wake me up when september ends….
EVERYTHING WE OWN IS WORTHLESS
AU: I already apologized to you on a previous thread. Go back and read it.
The Fly is God
This is insanity
This is “Financial Science Fiction”
contractor:
“I thought republicans were for free markets and despised govt. intervention? Oh, I guess that is only when times are good…funny how they cling to it like a security blanky when times aren’t…..”
They are for protecting their 401k’s. Free market my ass. There’s nothing FREE about it.
my 401k is now about a 201k
Hey Fly,
If you know any wall street execs. that need help let me know. May be I can sell my kidney to give to them. It’s ok, I’ll live out on the streets so these greedy fuckers can save their 10 big houses. This is strictly a bailout of GS.
This is BULLSHIT.
Does anyone else think LM will still fall longer term? The next few days should be a rally for financials, but I think financials will still suffer over the next few months. The U.S. economy will still suck for a while. You can’t fix this overnight.
Does anyone else think that after this pop, we will continue back in a bear trend?
The FLY truly is god. C is up 30% pre-market!
Other BIG moves…WB +62%, WM +53%, AIG +53%, MS +48%, MER +37%, GS +33%
“prepare for the Great(er) Depression.”
Jake I think you may be right and sooner rather than later.
These guys are insane.
Sman,
LM is still shortable as far as I know (could it have inadvertently been left off the SEC list). If people sell into this, redeem their MFs, etc.. that would put some pressure on it.
Kind of nice to see my largest long position (DEO) up over 8% at open.
But this is an artificial rally and I’m shorting the shit out of it.
Au Contraire said
“Beautiful move on reversing and going long C, Fly! Congrats on that one!”
At fuckin’ 3:18PM Thurs when Fly had been SHORT every fuckin’ financial atock and long SKF in the morning (and probably early PM)?
At FUCKIN’ 3:18 PM AND YOU CALL THAT TIMELY?
Fuckin’ DUMBASS!
wanna short financials? buy my SKF. I’ll sell it to ya for $140, it’s the only game in town!!
Done for the AM. Thanks GG,AUY,short SMH. Off to watch the Ryder Cup for awhile. Go USA.
I forgot to add Thanks AAPL short.
Seriously like the new layout. I was pleased with the content. Credit for this quality blog post.