Have the Financial stocks hit Bottom ??

[goofer]

After today's massive rally and the FED, SEC, and US TSY's financial tinkering, have the financial stocks hit bottom ?

 

[30ashopper]

I doubt it. Most aren't going to get bailed out by a pipeline of free taxpayer money and an implicit guarantee from the FED. Quite a few will fail before this is all over.

 

[traderx]

After today's massive rally and the FED, SEC, and US TSY's financial tinkering, have the financial stocks hit bottom ?

It is too early to call a bottom from a technical analysis standpoint. There are predictions of more banks to fail and that the Fed will be forced to raise rates as inflation continues. There are also investigations into IndyMac and the Bear Stearns situations. Seems like a lot to overcome right now.

Today's "relief rally" was probably due to Fed assurances, oil price drops and something the AP failed to pickup, the dollar gained against the euro. I am the last person to say that the sky is falling but we have a worrisome environment on our hands.

 

[Matt J]

After today's massive rally and the FED, SEC, and US TSY's financial tinkering, have the financial stocks hit bottom ?

I'd have to say no since they aren't at $.00, just my $.02.

 

[SHELLY]

After today's massive rally and the FED, SEC, and US TSY's financial tinkering, have the financial stocks hit bottom ?

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

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[Mango]

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

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I'm thinking WAMU. :shock:

 

[SHELLY]

I'm thinking WAMU. :shock:

Me too. Understand it's a horserace between WAMU, Corus and National City Corp.




Now I think it's a good time to dust off an old joke from back during the 80's S&L collapse:
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"Everytime you buy a new toaster--they throw in a free bank." <rimshot>


:funn:





Thank You, thank you...I'll be performing in the lounge till Friday.



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[Miss Kitty]

Any thoughts on Regions and BoA? (yes, I know they have tanked recently) I am trying to keep Mr. K from looking at portfolios, but he has a problem.

 

[30ashopper]

I'm thinking WAMU. :shock:

Wakovia & Colonial are ones to watch. Colonial just had an earnings release, they have capital but their bad loan percentage is around 2.6% with lots left on the books. This is the bank that backed Owl's Head to the tune of 30 mil..

 

[30ashopper]

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".