Thursday, October 09, 2008

Missed Opportunities



Just yesterday I contemplated shorting PNC and SunTrust Banks.

Look at them today:

STI -6.63 to 35.12

PNC -4.18 to 63.57

There's still meat on these bones but I'm reluctant to chase them, down.

Note also Wells Fargo is taking it on the chin today, -3.77 now, for a change. I needed that. I can't wait until their earnings call next week; I can't wait to hear their NEW ACCOUNTING LIES.

Surprise, surprise. Looks like the feckless manipulators allowed the *short sale ban* to end today without extension.

2 comments:

west coast tom. said...

I know you told me this before but at what price did you short WFC? My guess is that you must be in at least *some* profits by now. I was looking at the WFC chart at stockcharts.com. To say it does not look pretty would be an understatement.

CaptiousNut said...

I am pretty sure I am profitable on WFC. Hard to quanitify (without some reseacrch) since I've been in and out so many times - it messes up my cost basis on my brokerage account. Check my old trading updates.

My last two *sells* were 24 and 27 or so. Obviously I am not up on them. But I bought puts with the stock much higher. And I bought SKF with the stock much higher. I've done well. Hoping to squeeze at least another 5 points (to 22) soon.