RE: Time to short again $$$$I would concur a short would be in order but not until next week at the earliest. I would wait and see what the sheep (institutional & retail investors) will do beginning in September. Banks could see a brief pop as stranger things have happened.
I applaud all 5 of the major Canadian banks on their ability to use shifty accounting practices to mask their losses. Read beyond the headlines and you'll find all 5 banks missed their targets by a very wide margin. RY's numbers were especially distressing. I'll say it again but we've only seen the tip of the iceberg where writedowns are concerned.
Buy bank stocks at your own peril.
El-Mark-O