BOA CEO says "Sell bank stocks"

[brandon]

http://www.themarketguardian.com/20...-bernstein-says-sell-bank-stocks-after-rally/

wtf?


I got burnt bad today shorting bank stocks. :o

 

[slamminshaun]

Why would you short bank stocks today of all days? Did you seriously believe the Geithner plan was going to send financials into the basement?

 

[angelatc]

Why would you short bank stocks today of all days? Did you seriously believe the Geithner plan was going to send financials into the basement?

Well, it did last time he talked about it!

 

[brandon]

Why would you short bank stocks today of all days? Did you seriously believe the Geithner plan was going to send financials into the basement?

I got in my position on Friday afternoon and decided to hold over the weekend because there was nothing suggesting a massive rally today.

Then at 8:02 PM Friday night, 2 minutes after after hours trading ended, the government announced the Geithner plan will be coming out today.

I think they were trying to hurt the shorts by announcing the plan at the time they did. I was already down 23% at open this morning.

I wasn't playing with a lot of money though, so the loss isn't gonna kill me. I'm just going to stay out of the markets for a while.

 

[Josh_LA]

Why would you short bank stocks today of all days? Did you seriously believe the Geithner plan was going to send financials into the basement?

yeah dude, what was you thinking?