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I've been in the XLF since the beginning of April and am up around 18-20%. But I'm starting to get nervous. I think I'll let this run through tomorrow and see what happens. I've got a stop in, just in case.
HOOOOOOOOOLY crap. I bought CTIC a while back at 42 cents a share. Now its at $1.50 (up 130 percent today alone)! My portfolio is back in the green from the summer (when I started investing) due to this one stock. I can't believe I actually caught one of the biopharm companies BEFORE the ride up. This is crazy.
The S&P is now in the red? Are we seeing the blow-off top? Methinks so I'm about to put a downside hedge in place
Lot of the financials popping afterhours after the "stress test" results were released (as opposed to leaked). BAC is at $14.80! STT up over $3.
Seriously though, can somebody explain why dilution is causing so many symbols to soar? This exuberance has me baffled.
It's not that dilution is causing those stocks to soar - it's the removal of uncertainty. The fear of failure is slowly but surely being removed, and with that, these things get repriced.
I think part of this is that shorts are getting blown out. Someone was on CNBC saying there were hedge funds getting taken out that were in short positions. The other thing they're thinking is that everybody now knows which financials are good and which ones are bad and are making a decision that even based upon dilution, some of them are still way oversold or undervalued, but none of them are probably going to go under thanks to the government. I'm trying to find some good information on this because I still say most of this movement is nuts. There are some regional/smaller bank stocks that were going ape the past couple of days.
I thought so too and went short but got burned on Friday. I wanna double down but don't think there will be a decent pullback anymore.