Anyone else planning to trade the wikileaks bank leak?

[SmoothTalker]

I was just thinking about this, because it seems financials have not really reacted too much.

Wikileaks has promised a very significant and damaging leak early in 2011 against 'a very large US bank that is operating today'.

Given their track record, I think we can be pretty confident that if they're promising this leak in early 2011, it will happen in early 2011.

There is a fair bit of speculation that the target is Bank of America because they match the criteria and Assange mentioned having dirt on BofA in an interview last year, which is data they have not leaked yet. Besides everyone knows Bank of America has been involved in some sketchy ****.

I'm thinking of buying some February BofA puts to see how it plays out. Long FAZ was also a consideration.

What do you guys think? Anybody doing the same?

 

[Julius_Seizeher]

I wouldn't play the options, I'd just go long the stock after it tanks.

The banks have been beat down pretty hard the last couple years, I would only buy a big box like BofA if the wiki thing killed the price. It takes a really big hit to sink a ship that big, they always come back.

I like some of the remaining regional banks that didn't get swallowed up by the whales. I bought Huntington awhile ago, its headquartered down the road in Columbus and their management kept it afloat through the last two brutal years. They recently announced an offering to pay back the bailout money and Cramer has been pumping it lately. I'm also watching First Citizens (FCZA) out of Sandusky, they bought my bank awhile ago and they are expanding across the midwest. Beautiful share structure, it's been in a downtrend so I'm looking for strength to start buying.

Edit: I'm still kicking myself for not buying PNC five years ago.

 

[f283000]

Is WikiLeaks A CIA Operation? 1/3