Have the Financial stocks hit Bottom ??

[goofer]

The question should be..."What bank is next in line to go down the toilet?".

.

The question should be what are the banks that will thrive and prosper in the next cycle. These are the banks that have been thrown out with the bath water. I vote for JPM WFC BAC USB. I would avoid WB and all the bank stocks that are single digit midgets. The aforementioned have all gone up 30% plus in 2 days. The psychology on Wall St. will now flip to buy em on weakness. Next week BAC reports and they have already stated they will not cut the dividend. I suspect BAC will beat estimates and there will be another leg up in financials.

 

[goofer]

As an aside.....I would now start to look at some of the giant integrated energy companies that have been beaten up in the last 2 weeks. We talked about XOM on anther thread when it was much higher. I would look to buy XOM if it gets to 78-79. CVX at 80. COP 75-76.

 

[traderx]

As an aside.....I would now start to look at some of the giant integrated energy companies that have been beaten up in the last 2 weeks. We talked about XOM on anther thread when it was much higher. I would look to buy XOM if it gets to 78-79. CVX at 80. COP 75-76.

What is the XOM target price of 78-79 based on?

 

[goofer]

What is the XOM target price of 78-79 based on?

First area of support, with major support at 70-72.

 

[TooFarTampa]

There's a site out there I'm sure some have seen - Bank Implode-o-meter.

http://ml-implode.com/


They have lists of good banks, banks and institutions that have failed, and banks that are "questionable".

I believe that is Shel's home page.

As an aside.....I would now start to look at some of the giant integrated energy companies that have been beaten up in the last 2 weeks. We talked about XOM on anther thread when it was much higher. I would look to buy XOM if it gets to 78-79. CVX at 80. COP 75-76.

I think my mom's sell-a-bunch-and-lock-in-profits (remember my mom, she of the 27 percent XOM portfolio?:shock target is about $75. Cost basis is about $22 or $25. Any wise words goof?

 

[goofer]

I just looked at the options on XOM to see if it made sense to sell some options against part of her position. It doesn't look like there is enough premium in the options for that strategy to make sense. I think Mom's strategy is as good as anything. If Xom does rally to 85 I would definitely want ther to lighten up some.

 

[SHELLY]

I believe that is Shel's home page.



I think my mom's sell-a-bunch-and-lock-in-profits (remember my mom, she of the 27 percent XOM portfolio?:shock target is about $75. Cost basis is about $22 or $25. Any wise words goof?

Did Mom sell any at $90? How is she feeling now that it's come down 10%?

.

 

[TooFarTampa]

Did Mom sell any at $90? How is she felling now that it's come down 10%?

.

Her quote last night: "Well, it dropped a dollar today, good thing I'm still working!" :roll: :roll: :roll:

Interesting change of tune from a month ago, when all she told me was that the "experts" were saying "buy." Sigh ...

P.S. folks I am not worrying about my inheritance. Mr. TFT and I worry about two of our parents who may be in some trouble in 5 years or so, or less, and I want my mom to at least be the one who rises above it all!

 

[Miss Critter]

What percentage of bad loans does it take to bring a bank/lending instution down? Did I hear that the Freddie/Fannie fiasco is based on 1%? Can that be right?

 

[TooFarTampa]

What percentage of bad loans does it take to bring a bank/lending instution down? Did I hear that the Freddie/Fannie fiasco is based on 1%? Can that be right?

I thought I read somewhere today that the level of comfort is about 2 percent.