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Old 05-27-2010, 09:56 PM
 
Location: Wherever women are
19,012 posts, read 29,623,907 times
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Quote:
Originally Posted by Texas User View Post
I own BAC but not sure if I should keep it. Anyone have Citigroup?
You should keep BAC. Watch C for another month. It's at 4 and it's a good sign, but it may not last there. The treasury just sold a billion stocks, depends on the Qatar folks.

I'm looking to buy C and I wanna wait till it gets down to 3.25ish. And I believe it can
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Old 05-28-2010, 08:46 PM
 
12,671 posts, read 23,730,206 times
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Quote:
Originally Posted by Antlered Chamataka View Post
You should keep BAC. Watch C for another month. It's at 4 and it's a good sign, but it may not last there. The treasury just sold a billion stocks, depends on the Qatar folks.

I'm looking to buy C and I wanna wait till it gets down to 3.25ish. And I believe it can
I am in it for the long term. Financial stocks are very volatile though. Should I buy more shares?

Don't think it will go 3.25 unless we keep having sell off days. I would jump on C now.
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Old 05-28-2010, 10:33 PM
 
Location: Wherever women are
19,012 posts, read 29,623,907 times
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Quote:
Originally Posted by Texas User View Post
I am in it for the long term. Financial stocks are very volatile though. Should I buy more shares?

Don't think it will go 3.25 unless we keep having sell off days. I would jump on C now.
Yeah, many don't want to sell C off right now. But I believe it can at least go 20 cents down in the next few days. There's so much uncertainty in the market right now. It's tapering towards 4 now. You will have a heartburn if it goes 20 or 25 cents down 2 days after you buy it

But if it looks consistently bullish from here and adamant at 4ish for the next 5 to 10 days, then I am planning to give up and buy I guess.

I use scottrade and I have set a limit transaction at 3.5. Hoping that Europe will continue to have a ripple effect.
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Old 05-29-2010, 09:19 AM
 
Location: Warwick, RI
5,433 posts, read 6,203,322 times
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Quote:
I like how LYG looks right now
I do too, but I like STD better. Yes, they're a Spanish bank, but more than half of their business comes from the UK, USA and South America. Their exposure to Spanish sovereign debt is high, but not danerously so. They are a very solidly managed company, and at the moment, their dividend yield is substantial (9.00%), unlike other European banks.

I believe the share prices of the European banks will remain depressed for some time, so right now I'm taling advantage of this pullback to add to my five major holdings (AGNC, BAC, BRK-B, NPK and SMG), but STD is next on my list. At $10, there's room for growth (historical highs in the mid $20s), and I'll gladly take a 9% yield to help hold me over the long haul until Europe gets their heads out of their you-know-whats.
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Old 05-29-2010, 10:20 AM
 
Location: Wherever women are
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Quote:
Originally Posted by treasurekidd View Post
I do too, but I like STD better. Yes, they're a Spanish bank, but more than half of their business comes from the UK, USA and South America. Their exposure to Spanish sovereign debt is high, but not danerously so. They are a very solidly managed company, and at the moment, their dividend yield is substantial (9.00%), unlike other European banks.

I believe the share prices of the European banks will remain depressed for some time, so right now I'm taling advantage of this pullback to add to my five major holdings (AGNC, BAC, BRK-B, NPK and SMG), but STD is next on my list. At $10, there's room for growth (historical highs in the mid $20s), and I'll gladly take a 9% yield to help hold me over the long haul until Europe gets their heads out of their you-know-whats.
I agree 100% there, that's what can save that bank. Also, Sandpoint has a point about spanish banks, but I guess I STD can be an exception.

Also, someone else tends to agree too

Fund manager Ackman bought 150 mln Citi share - MarketWatch

Founder of Appaloosa Management David Tepper, who made headlines last year for his outsized success betting on a comeback in bank stocks and debt, said that he still likes Bank of America Corp. /quotes/comstock/13*!bac/quotes/nls/bac (BAC 15.74, -0.44, -2.72%) and predicted shares, which closed Wednesday at $15.47, could go to $27. Also getting Tepper's thumbs up is Spanish bank Banco Santander (SAN.MC, STD), which has been battered amid the European debt crisis.

He said its shares could double in price. He's also bullish on a $4 billion issue of AIG junior subordinated debt, with an 8.175% coupon.
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Old 05-29-2010, 10:10 PM
 
Location: Los Angeles, Ca
2,883 posts, read 5,871,203 times
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Bank stocks now sure would test your skills as a trader/investor. What about options? Calls?

Less money at risk per share, but a potentially higher upside.

-I wouldnt be suprised if some of the big ones crashed again in another 2-4 years as the worldwide economic situation gets sorted out. I cant imagine them never going down again.

Keeping their balance sheets 100% intact would be like a chess player having to play 24 boards simultaneously, and staying on top of every move during all games. Too many cross currents and international links, and potential problems.
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Old 05-30-2010, 11:08 PM
 
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The big 4 will stay : Bank of America, Wells Fargo, Citigroup and J.P Morgan.
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Old 06-01-2010, 02:37 PM
 
Location: Wherever women are
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STD has dropped below 10. Any takers?

I have a limit trade set for 9.2. Hoping it drops that far and this will be one of my long term holdings.
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Old 06-01-2010, 08:39 PM
 
Location: SC
9,101 posts, read 16,401,492 times
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I would avoid the Bankster stocks but no matter which one you choose, you better make sure it is trending in the same direction as Goldman Sachs (GS) which is the firm that instigated the mortgage investment schemes and which led to the bailouts. GS is also where Ben Bernanke and Hank Paulson and a laundry list of other Federal Reserve staff hail from. Goldman Sachs has a HUGE influence over the overall direction of the market. Before you invest or trade as the case may be be sure to look at the stock in charts of different time frames.

The market is VERY choppy right now. It is not for the faint of heart. Look at 5 day; 10 day; 20 day; 30,60,90 day charts; as well as yearly and 5 year charts and use that info to decide your entry point. Here is a 5 day chart for GS: http://finance.yahoo.com/echarts?s=G...urce=undefined

Here is a 90 day chart for GS: http://finance.yahoo.com/echarts?s=G...urce=undefined



Most of the stocks seem to be trading in a range. The last thing you want to do is buy at the top of the range. Instead wait until the bottom of the range.

GS for example trades in a 10 pt range sometimes in just one day. So 100 shares could lose or gain up to $1000 depending on where you entered. Unfortunately, it hasn't been making higher highs and higher lows which is what you see in stocks that are trending upwards. However the range it has traded in over the past 20 days has been within approx 150 to a low of 132. Overall it is trending lower. You can look at charts of stocks at finance.yahoo.com.
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Old 06-01-2010, 09:53 PM
 
12,671 posts, read 23,730,206 times
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Investing for the long term is the best and the lowest risk strategy.
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