A nice day yesterday with FAZ triple short banks, up 20pct but I will be closing that out some time today. Bought at 9.15 now 11 will move stop up to 5pct from it's open today.
We just can not take on this government and now that they have agreed to disclose how ALL 19 big USA banks have passed the stress test and how, kind of says to me this is one real puppet show going on at the moment.
http://www.youtube.com/watch?v=21OH0wlkfbc&feature=related
Firstly this stress test is no test at all it sounds like just a market manipulation strategy to increase confidence. Imagine in a couple months if another bank goes under or gets a massive government injection and share holder dilution if the government say they pass the stress test now but in a few months the bank has their hand out again. That could be an opportunity worth waiting for.
Either way I can't take on the government even if I know they are just playing a confidence game with this bank test, lets face it we all know they are not going to say, citi, bac etc failed are they now. If a bank is strong and need capital they can raise it, if a bank is weak and need capital they go to government, hows that for a stress test, let the market decide but alas this is not going to happen.
Giddy Up
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