3SOF

Dang...was looking through the list of banks and financials last week.  I thought CIT looked like a good short candidate...but never got a chance to short it.

Still looks like a good short candidate. 

Just halted. 

Missed this short

I noticed this thread and was hoping you got short somehow.

Oh well, I have a feeling there are plenty left.

Quote from: bjc on March 20, 2008, 12:22:08 PM
I noticed this thread and was hoping you got short somehow.

Oh well, I have a feeling there are plenty left.

Yep...there should be plenty left.  Let's keep an eye out for these.

CIT Borrows $7.3 Billion to Repay Debt
Thursday March 20, 12:23 pm ET
CIT Taps $7.3 Billion in Bank Credit to Repay Debt

NEW YORK (AP) -- CIT Group Inc. is tapping into its $7.3 billion credit lines to repay debt and finance its commercial lending business.

The New York financial services company says the move comes as it cannot get financing from other sources amid a tightening of lending on the capital markets.

Chief Executive Jeffrey Peek says the borrowing provides "added flexibility" for his company.

Looks like it's ready to drop again.  I will look to short tomorrow if it's not down too much at the open.  CCOW should drop again too.

It's looking like LEH may have some bad news ready to come out...I think it will take down the whole banking sector in the days to come.

We really need a short board.  I see so many bad things coming out of the banking sector in the days to come.  Just wait until credit card debt becomes an issue.  How many 0% interest on balance transfers until Jan. 09 do you get in the mail???  I'm looking at COF as a short.  May look to buy July puts down the road.