The Plague

aquaswim47 · #1 (**permalink**) 07-16-08, 12:30 PM

The financial stocks in my opinion have stock-specific problems, not an industry-wide problem.

For instance, WFC would have been the pick I would have had for the DJIA since it was run so much better than BAC and as a result, BAC has dropped a lot more in the last year.

WFC is up almost 25% today. I'm very happy for the stockholders who chose to trade or invest in it at 3:59 pm yesterday. Nice job. I should have been paying attention to it.

Airelon · #2 (**permalink**) 07-16-08, 05:19 PM

Wow. Still scratching my head. I mean, I don't mind the one day gain on my BAC of 20.46%, and the 13.06% on my Morgan Stanley. But makes me wonder.

Seems investors are waiting for just a little bit of good news to go hog wild in the financials.

aquaswim47 · #3 (**permalink**) 07-16-08, 05:26 PM

I still would have preferred a much quicker drop in value than the 1 year it took.

Airelon · #4 (**permalink**) 07-16-08, 05:28 PM

I hear ya. But there's the whole argument to be made for less volatility, and kicking the can down the road so as to not instill panic.

Fredledingue · #5 (**permalink**) 07-17-08, 07:23 PM

Have you guys bought something this week or even last week?

Airelon · #6 (**permalink**) 07-17-08, 07:24 PM

Myself? Just naked Soymeal put options. The last stock market purchase I made was the BAC at $30.55

aquaswim47 · #7 (**permalink**) 07-17-08, 10:14 PM

I was a mega buyer last week. Hope it pays off.

Jerklian · #8 (**permalink**) 07-18-08, 04:06 PM

Well, I doubled my BAC position at $19.23 and just sold my JBLU trade for a cool buck (or 25%gain) but that was a stab at oils fall on Tuesday -which paid off.

I'll gladly post these and keep silent on the past 3 months