Wednesday, February 4, 2009

Financials on The Brink

The Dow and the financials won't need much of a push to send us to new lows. They will get there, the question is what day. Jim Cramer had us bottoming last Tuesday, his 600th such call, and 500 points ago. Love ya Jimbo, keep up the good work. You should be ashamed, I've heard so much about your great returns when you ran your fund, was it ever audited? I would love to see the real returns. Hey Jimbo, did you ever make good on the 50 k bet you made with Eric Bolling and lost in disgraceful fashion? You remember, it was the bet you made on Fast Money, you said to go all in on the financials, Bolling said they were going to crap and said buy commodities. It was the bet for 2008. You must remember, the XLF was around $30. Jimmy, I'm sure it was an oversite, you are so busy. You should pay up, because I know you want to help people, you do it every night.


DF said...

Great rant upside, hopefully this call out on Cramer gets momentum because this guy should be scrutinized like Madoff.Looks like BAC gets renamed "Bank Owned by America" next few days, todays volume was most ever from what the chart is showing.--

Continue the good work.

upsidetrader said...

hey DF

the financials are death

DF said...

I agree wholeheartedly on the death of financials, Meredith Whitney has thrown daggers at them.
Whats keeping GS up? They are bank, so they should be priced like a bank.Looks like $$ being parked there like GOOG, AMZN, & AAPL parking recently.

snoopyjc said...

LOL - I think you're watching too much Don Harrold! :-)

Great insights! Now, let's see how much those XLF puts are going for! :-) :-) :-)


Tony said...

If it stays below $5, do institutions have to sell it?

If so, it should be $3 by Monday.

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.