Tuesday, April 13, 2010
The Mad Pumper(s)
After this mornings wallet flush, I wondered what the machines where up to. What where they selling, the fact that they where bidding up the IYR was obvious. I mean is Simon Property (SPG) really worth 3.5% more now then 24 hours ago? How about my personal fave Vornado Realty (VNO) trust up 4%?
Alas, it would appear that they may be starting to unwind a little of their exposure to regional banks. They did a nice hatchet job on Whitney Holding Corp (WTNY), down 3.5% today, or how about PacWest Bankcorp (PACW) down 3.4%. I personally would have picked on Webster Financial (WBS), but that's just me.
I am not trying to discourage anyone, exactly the opposite. Nobody cares more about your money then YOU. Stay alert, stick with your plan, and trade em well.