Definitely impacting the financials today. Do you guys think the SEC will renew the shorting restrictions on those 19 firms? Either way, until the SEC acts, a lot of people are going to be adding to or resuming their short positions on financials.
Chuckrox8 Wrote: ------------------------------------------------------- > Definitely impacting the financials today. Do you > guys think the SEC will renew the shorting > restrictions on those 19 firms? Either way, until > the SEC acts, a lot of people are going to be > adding to or resuming their short positions on > financials. i think smart money alreadyhad this trade on starting couple days ago… smart money will be probably unwind in couple days …sell the news type… slower money coming into the trade and they will probably get steamrolled on short covering. that said, we will continue to see selloff in financials until smart money has seen enough gains on their shorts.(maybe all the way through options expiration on friday…)
Chuckrox8 Wrote: ------------------------------------------------------- > Definitely impacting the financials today. Do you > guys think the SEC will renew the shorting > restrictions on those 19 firms? Either way, until > the SEC acts, a lot of people are going to be > adding to or resuming their short positions on > financials. There are a lot of proposals out for opinion now, including some very tight ones (eg requiring preborrows across the board permanently). Its really up in the air- I hope there isn’t a huge regulatory overreaction.