Replies to post #72356 on WEALTH UNIVERSITY

[dam]

I don't think shorting WFC now is a good idea.

I do wish I had shorted on Feb 11 after not seeing a bounce after a sharp plunge. Had I opened shorts then and just let the profit ride until it started to turn, I could've seen some heavy green... instead, I sat on my hands (because I really don't like shorting and am uncomfortable with it) and saw losses instead of gains.

I can tell you that I'm growing more and more comfortable with the idea of playing shorts more these days.... at least until they put on better regulations. I don't want to apply downward pressure on the markets, but I've about had it with letting others profit on the ride down while I accrue losses.

Hopefully this coming week will be rally city. I'd be thrilled if we've put in a bottom or are near the bottom.. but I'm in a defensive mindset these days and will probably be buying protective puts after the next rally or sequence of rallies, and just rolling them as needed.

[Profe$$or]

I just see it as a trading vehicle right now. You could be right long term but I certainly wouldn't be short ANY financial stocks going into the sub-committee meeting on mark to market. I never thought they'd go there but the more I hear and the more I see the current state of the market I wouldn't be surprised to see them do it.