OneLongTrade Dr Jon Najarian from Fast Money is going long JPM short GS/CS/DB as a pair trade into tomorrow. Doug Kass bought JPM at 38.20.
5/10/12
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OneLongTrade: Just letting you all know what some of the pros are doing. My biggest worry from the news is that VAR jumped from 62M to 129M.
5/10/12
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Chines33: Both the "pros" you just mentioned have been crushed this week. Especially Kass big time.
5/10/12
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OneLongTrade: Kass yes, not sure about Dr. J, I don't follow him as closely.
5/10/12
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OneLongTrade: The $2bil loss was on a portfolio of $200bil. The problem here is NOT the loss, it is the credibility of JPM. Stock takes a hit, but does
5/10/12
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OneLongTrade: this warrant a collapse? Hm, guess we'll have to see how Mr. Market takes it.
5/10/12
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callseller: is it possible for Banks to buy lots of puts or short the market before announcing the bad news?
5/10/12
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OneLongTrade: Possible... Banks/Hedge Funds. Could explain why a lot of the stocks sold off into the close, especially JPM.
5/10/12
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Bret Kenwell: Well call seller. Is it possible? Yes. But this is also illegal.
5/10/12
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1980XLS-2.0: Yeah? Well, "Dr Jon" told people to go long CIEN, three days ago @ $13.31, now under $12. Some Doctor!
