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The market is showing some bullish animal spirits. Probably some buying is warranted of the financials.
ReplyDeleteTodd Harrison has a position in Bank of America (BAC)(closed at $4.84) and Morgan Stanley (MS)(closed at $23.19).
Citigroup (C)($3.53 close) might work also. C and BAC might double.
The strategy is to sell the same day the "stimulus" bill is passed. The real money will be made using options.
This is a pure trade, people. Not an investment. It is the usual attempt to play the public for fools. Very possibly it will work. The whole thing will be over by the end of next week probably.
Personally I don't have access to enough information to have any valid opinion about these trades. Todd Harrison and such folks use full Bloomberg trading stations that go for $150,000 minimum - a year.
Me, I'm staying out. "A man has to know his limits," as Dirty Harry put it.
Bear Market Trader