Aside from [[LEH]], major banks and brokerage firms have tiny short positions. The percentage of shares sold short range from 1-4%. The stocks suck, due to institutional selling, not bear raids.
In the regionals, most of those fuckers have 10-30% of their floats sold short. It doesn’t take a rocket scientist to understand there is more upside in the regionals, providing we get a squeeze.
Within the regionals, I like [[UB]], [[ZION]] and [[CMA]] for a trade.
With oil fading here, yet again, I will buy [[FTK]] and [[RIG]] on a dip.
Finally, I covered my [[LAZ]] and [[CHL]] shorts.
I believe we can rally here.
Top pick: UB
Clarification: I like UB as a conservative play. Also, with the Bank of Tokyo owning 68% of the outstanding shares and Barclay’s 9%, the stock can ratchet higher quickly, if buying interest emerges. ZION and CMA are my short squeeze plays.
ZION is trading .75 its book, with a 27% short position.
CMA is trading .88 its book, with a 13% short position.
UPDATE: I covered all of my shorts, with exception to [[FED]] and a little [[REW]] and [[TWM]]. Also, I own a little [[DUG]] If you enjoy the content at iBankCoin, please follow us on Twitter
how about HCBK?
u thinking going long GS after earnings? Would be a big rally if the financials participate like today.
If The Fly shot hoops as good as he picks stocks:
UB is only 3% short according to E*trade
I gave a clarification.
See above.
FLY – Is the larger theme heavily short squeezes, or limited to financials? See OSTK today for an example.
I think the sector can run here.
Just a feeling. I could be brutally punished.
We shall see.
Thanks The Fly.
How bout shorting FXP? You just know China is finally gonna take the handoff tonight & go up like 5% or something. Then GS pulls a wabbit out of their ass & up the market melts.
PNFP. Give it a look. One of the best run small banks in the US. An old friend runs it.
http://finance.yahoo.com/q/ks?s=PNFP
I agree, I bought some XLF calls since last week to hedge my regional banks shorts;
I am getting killed shorting the QQQQ’s…this has to be worse than shorting Ags stocks.
I am all out of FXP.
Retail flying on the back of 138 oil. And why shouldn’t it.
Makes complete sense.
Today is the ralley for the financials. Sell the news.
C’mon FLY- your better than that.
Buy the banks after the couple days we have rallied?
Not so much
Donkey punch for you
Sell the news people.
Hybrid:
Go fuck a goat.
“The Fly” does not need nor willing to listen to your rank amateur advice.
“The Fly” is Godzilla: Hybrid is Japan.
Fly, what about KRE? Good for this play?
FLY
Sorry for my behavior. It was very amateur.
You are GOD
Off to fuck a goat with no lube or condom.
Its gonnna hurt me more than it hurts him.
Just covered 1000 intraday short BOOM 38 to 37.1.
I am looking for another short entry on BOOM. Seems to have support just above 37. Waiting for a pop to fade.
I like to trade KRE (regional bank etf) although I seem to recall it holds a ton of banks and none has a position of more than 3% (as I recall).
Tiger is playing the Par 3s like a Nancy (and I don’t mean Lopez).
How about HCBK?
-DT
Giving it back to Rocco?
Could be going into extra innings. Gotta love Rocco.