I agree Steve. I will be lightening up my longs into the
weekend. The KRE risk is 100% not over and we can wake up any
Monday morning with another bank run. As far as the headline
that they are going to look into market manipulation - I've heard
that one before and rarely does anything come of it. Bottom
line is that if a few guys with a lot of money (see hedge fund
managers) decide they want to short a stock and agree, they can do
so. It's not inside information. Relief rally is right
! Opened a KRE Sept 30 short today and added to my PNC short
which I posted several days ago. Given that we got a good
news (whatever) Friday, there is an increased likelyhood of a bad
news Monday.
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I agree Steve. I will
Personally looking for more selling into late May early June ...
Posted by fredsaid on 5th of May 2023 at 02:30 pm
I agree Steve. I will be lightening up my longs into the weekend. The KRE risk is 100% not over and we can wake up any Monday morning with another bank run. As far as the headline that they are going to look into market manipulation - I've heard that one before and rarely does anything come of it. Bottom line is that if a few guys with a lot of money (see hedge fund managers) decide they want to short a stock and agree, they can do so. It's not inside information. Relief rally is right ! Opened a KRE Sept 30 short today and added to my PNC short which I posted several days ago. Given that we got a good news (whatever) Friday, there is an increased likelyhood of a bad news Monday.