Well, I have historically bought a lot of bank stock in the past and with the current economy tailspinning banks are not looking so hot right now. I have lost a ton over the past 12 months. What are you guys looking at stockwise nowdays??
buying bank stock now that its at low…
bulletsrcheap
bank stocks are a little risky right now, but I am buying them too. BAC and WM. also check Goldman Sachs (GS). they were short during the subprime mess recently and have very little exposure to it now.
tech has been beaten recenlty. ORCL looks good. plus, INTC and MSFT had decent to good earnings recently and have been taken to the woodshed.
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
In the long haul i think banks are still a solid investment as my investments right now are geared towards longer term. I have a lot of South Financial (TSFG) - parent company of Carolina First bank and have been buying more with dividen reinvestment. So, while the stock has dropped sharply over the past year, the silver lining is I buy more stock with my dividens. i am crossing my fingers that they will be bought out with a good split.
WOW, that stock has run $4.50 since 1/22/08…WOW
hope you had it before that move. from a technical standpoint the MACD and stochastics are super high right now. implied volatility is high right now too. this stock got a 50% haircut in the last 5 months.
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
quote:
Originally posted by Bonzo72WOW, that stock has run $4.50 since 1/22/08…WOW
hope you had it before that move. from a technical standpoint the MACD and stochastics are super high right now. implied volatility is high right now too. this stock got a 50% haircut in the last 5 months.sho nuf. It was trading at almost $35 back in 1/05. I sold some off at $22 in early 2007. Bad financial times for banks recently coupled with the fact they were swindled out of $10 million in a fradulent land deal in NC…holding tight right now…
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org