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shorting Canadian Banks

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  • Aug 20th, 2017 6:52 am
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Deal Addict
Dec 6, 2006
3561 posts
612 upvotes
Toronto
That got a hit 100 today eh?


Two things that I want to see price crash so I can buy more... banks stocks and GTA RE...and both just won't slow down.
Deal Addict
Nov 24, 2013
3971 posts
1052 upvotes
Kingston, ON
leflower wrote:
Dec 9th, 2016 9:57 am
RY
ROYAL BANK OF CANADA
- CA -10,000 $90.02 () $81.52 () -$900,200.00 () -$815,223.56 ()
-$84,976.44
-10.42%
100.00%

took the short up to 10k now with a sell above 90.
I had to decide whether to tax loss the position or hold...Did not want to tax loss simply because of the 30 day rule. Added a bit. my position is now complete.
On another note, I am convinced miners will continue to run even if gold falls. Historically this has happened many times and is currently repeating. People are thinking this is impossible and will be left in the dust. Adding in SSO under 13 CAD.
See u guys in the new year..the unwind will likely happen in 2017 and not 2016 as I had hoped in banks.
So at an $81.52 cost basis for 10,000 shares short, if RY hits $100 today after those earnings, OP will be at a $184,776.44 loss position, with an $8,700 dividend payment coming.

Now that's a bad series of trades. Ouch...
Member
Aug 14, 2010
344 posts
124 upvotes
Toronto
LOL. RY also increased their dividend again. Ouch. That's the final nail in the coffin for the dividend cut prediction by OP. 5 months left for a div cut and for RY to tumble about 45%+.
Deal Addict
May 22, 2003
2116 posts
942 upvotes
Vancouver
I did add to my RY position today, but wondering why stock is down with earnings beat and dividend increase?
Sr. Member
Oct 21, 2014
579 posts
337 upvotes
Burlington, ON
Jermyzy wrote:
Feb 24th, 2017 12:17 pm
I did add to my RY position today, but wondering why stock is down with earnings beat and dividend increase?
There is a broad selloff today, unrelated to Royal. Good timing for that to happen - you paid less for your shares.
Deal Addict
Oct 4, 2006
1202 posts
207 upvotes
Toronto
Might this be a good chance to get in on some bank stocks?
I'm not one to time the market, but given how well bank stocks have done in the past year, buying on a dip might be a good opportunity.
Member
Feb 8, 2017
207 posts
69 upvotes
blindemboss wrote:
Feb 25th, 2017 12:24 pm
Might this be a good chance to get in on some bank stocks?
I'm not one to time the market, but given how well bank stocks have done in the past year, buying on a dip might be a good opportunity.
depends on your time horizon. if you are going to hold for 10 years then buy anytime. most people cannot time the market to any degree of success.
Sr. Member
Jun 15, 2012
709 posts
48 upvotes
MB
blindemboss wrote:
Feb 25th, 2017 12:24 pm
Might this be a good chance to get in on some bank stocks?
I'm not one to time the market, but given how well bank stocks have done in the past year, buying on a dip might be a good opportunity.
This is all times high for RY hardly a dip. IMO.
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful."
- Warren Buffett
Deal Addict
Jun 27, 2007
3048 posts
485 upvotes
Things change, as do trends. Canadian banks finally hit temporary top and exciting times ahead. Time to short RY. I plan to hedge with long TD.
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Member
Aug 14, 2010
344 posts
124 upvotes
Toronto
Weren't you already short RY a few times since this thread started?
Deal Addict
Jun 27, 2007
3048 posts
485 upvotes
emanon86 wrote:
Mar 11th, 2017 12:42 pm
Weren't you already short RY a few times since this thread started?
Only once last august and still have the position 2x -50P, +60P and -70C expiring jan 2018 on NYSE. I have collected near $1 credit and RY fridays close was 72. A little bit down, but its right there on the dance floor, not worried.
Will short stock on Fed decision.
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Sr. Member
User avatar
Dec 13, 2011
892 posts
81 upvotes
i bought puts on td bank when it was trading at 70

dlhunter wrote:
Mar 11th, 2017 8:58 pm
Only once last august and still have the position 2x -50P, +60P and -70C expiring jan 2018 on NYSE. I have collected near $1 credit and RY fridays close was 72. A little bit down, but its right there on the dance floor, not worried.
Will short stock on Fed decision.
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Deal Fanatic
User avatar
Jul 19, 2003
7374 posts
336 upvotes
dlhunter wrote:
Mar 11th, 2017 8:58 pm
Only once last august and still have the position 2x -50P, +60P and -70C expiring jan 2018 on NYSE. I have collected near $1 credit and RY fridays close was 72. A little bit down, but its right there on the dance floor, not worried.
Will short stock on Fed decision.
Why short Canadian stocks on a fed move?

They've skyrocketed even in Canada since the last fed move.
hi!
Deal Addict
Dec 6, 2006
3561 posts
612 upvotes
Toronto
Nothing dramatic, just a pre-weekend light humor moment

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