I’m short Capital One [COF] for this very reason, explains Karen Finerman. And I think there’s more bad news to come. However, I wouldn’t short JP Morgan [JPM] because they could trade up on other things.

The credit card company was among the most active names on the NYSE Monday.

Bag Borrow or Steal: Buy It or Bag It?: Will borrowing a luxury designer bag from Bag Borrow or Steal save you money? Mia Saini investigates.

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Look at these winners: Capital One (COF), as the credit card portfolio is holding up well. U.S. Bancorp (USB) and BB&T (BBT) because they are natural buyers of the bad banks. JPMorgan Chase (JPM) is a natural winner after this. I know Morgan Stanley (MS) and Goldman Sachs (GS)are having terrible quarters, but I think they are must-buys. The BKX is barely down!

Stocks like Schwab (SCHW) and Capital One (COF) are difficult to figure out, too. Schwab has nothing to do with this mess, but maybe trading will slow. People might look at the numbers Capital One put out about defaults, and while they seem pretty darned good, does anyone care? That stock had been on a rampage; probably stops today.

Q: Give us some shorts, please.

A: Let's start with the obvious. You can't have financial institutions levered 30-to-1, which I think is the case in Europe, or 25-to-1, which I think is the case in the States, and expect nothing bad to happen. So, we have been short the banks for a long time. And the brokers. And the mortgage lenders and mortgage guarantors. We typically short stocks, not ETFs or indexes. We've been short Bank of America [BAC], JPMorgan Chase [JPM] Citigroup [C}, Goldman Sachs [GS], Merrill Lynch [MER], Lehman Brothers [LEH], Morgan Stanley [MS], SunTrust [STI], Wachovia [WB], Washington Mutual [WM], Capital One [COF]. There's hardly a financial name that we aren't short.

3 Stocks I Saw on TV:
Dan Fitzpatrick examines three stocks viewed on 'Fast Money'. Today's stocks include Capital One, MSCI Emerging Markets and Imclone.

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Richard Fairbank

On the other side, I think you can short Capital One (COF). I expect more consumer pain to come in things like auto loans and credit cards.

Capital One Financial (COF) was downgraded from Market Perform to Underperform, Keefe, Bruyette & Woods said. Credit outlook will outweigh better than expected first quarter results. $40 price target.

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SAME REASON AS ABOVE

Capital One is in the eye of an impending consumer credit meltdown. SELL SELL SELL

Heavy exposure to weakening consumer.

bad credit cards

Banks are a tough play now.

Loved the commercials until I lost $ on this one. What's in my wallet? Less $ than I had before!

Lost money

CREDIT CARD PROBLEMS

CRAMER PICK WHICH CRASHED LIKE THE OTHERS