iBankCoin
Joined Nov 29, 2008
329 Blog Posts

Tough Times

Taken on Highway 65 (Little Rock, Arkansas):

However, I am up +7% for the day holding onto financial shorts for several days now.

I will likely initate short positions in the REITs tomorrow.

Where the hell is Allen?!

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16 comments

  1. Tradermarketinfo

    Thanks for the alert this morning big gains on my shorts here.. PNC STI AFL and long FAZ

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  2. Tradermarketinfo

    Thanks for the alert this morning big gains on shorts here.. PNC STI AFL and long FAZ!

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  3. Spaniard

    The DOW has been underperforming the S&P for a while now, it just feels weaker. I used to think of it as untouchable, all-mighty.

    But I guess it’s not.

    With the possible exception of Wal-Mart…

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  4. Ozark Hillbilly

    My office is around back.

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  5. The Chart Addict

    I’m afraid your office was sold for $300 at public auction.

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  6. Ferrari321

    Hey CA – how do I sign up for your trade alerts?

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  7. ManuelStop

    Continue shorting…The financials are the true weapons of mass destruction, and the market is the only means of de-fusing them–nobody else will do it.

    @ Spaniard: the DOW has been renamed the TARP index–what you knew is history.

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  8. Frog

    Hey CA,

    With so many REITs going down the funnel how do you pick? If you could only short one which would it be?

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  9. The Chart Addict

    I will post quite a few financial, REITs names on my list in tonight’s post.

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  10. Frog

    Looking forward to it. BTW just wanted to say thanks for all the good advice since your arrival here. I am new at this, especially TA and you have helped me quite a bit.

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  11. The Chart Addict

    Frog – Hope you made some cash.

    Ferrari – my coaching program is closed until I am able to free up extra time, something that I don’t see happening anytime soon.

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  12. GonzoTrader

    Funnel time…….100% of the symetrical triangle break out. I think we rip past SP 740.

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  13. EN1GMA

    Hey John,
    financials are up afterhours… not to mention the market is really oversold… bounce due for Monday in FAS and company? what say you?

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  14. The Chart Addict

    Absolutely, high-probability reversal signal + massive volume. I have a 10% long position in BAC, purchased minutes before the close. I see 15-50% spikers next week. I’ll have to do the research after I get drunk off my ass.

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  15. EN1GMA

    haha,
    you drinking already? TGIF! Have a good weekend dude! oh and thanks for the tip

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  16. anjing bau

    Financials are poised for a bear covering rally /dipshit buying spike. So I agree with the analysis.

    CDN banks/finacials are down to the 2002/3 levels. They are setting up for a buy most names are interlisted on NYSE.

    I am short the HFD.to… ( its a two times bearish ETF)

    long the UYG as well.

    did you notice the confirmed bullish engulfing on the IYR? Massive volume…short the SRS is the trade here.

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