wintertree's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/223315/comments http://seekingalpha.com/article/86761-wait-for-august-ffiec-call-reports-before-taking-a-long-position-in-banks?source=feed#comment-213264 213264
Hardly. The past week's price hikes resulted from the emergency rule banning naked short selling in many financial stocks. If you look at USB, for example, there was no real "rally" because during the few weeks before the rule went into effect, USB's pps had declined a ludicrous $13, for no reason other than a massive increase in short positions. Despite what you mistakenly call a rally, USB has not yet recovered its price of a month ago. Your story is misleading, making me suspect that you are a fan of short selling, including naked short selling: it makes your speculations more "prudent".]]> Thu, 24 Jul 2008 10:34:00 -0400
Hardly. The past week's price hikes resulted from the emergency rule banning naked short selling in many financial stocks. If you look at USB, for example, there was no real "rally" because during the few weeks before the rule went into effect, USB's pps had declined a ludicrous $13, for no reason other than a massive increase in short positions. Despite what you mistakenly call a rally, USB has not yet recovered its price of a month ago. Your story is misleading, making me suspect that you are a fan of short selling, including naked short selling: it makes your speculations more "prudent".]]>