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Don't Panic, You Can Wait To Buy Banks

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August 01, 2008 – Comments (5)

My goodness, don't make me laugh so hard...

 "Rob Curran attempts to calm the fears of those who think it’s too late to buy banks."

 You've got to be kidding...

5 Comments – Post Your Own

#1) On August 01, 2008 at 2:51 PM, dwot (45.74) wrote:

Don't make cry...

School District Unisured Deposits At Risk...

Yup, you can profit from buying the banks, but you'll have to pay twice to educate your kids...

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#2) On August 01, 2008 at 3:07 PM, LurkyLurky (99.80) wrote:

Ugh, I wish I had waited to buy banks. (big sigh)

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#3) On August 01, 2008 at 3:25 PM, EverydayInvestor (< 20) wrote:

It's not too late to short sell some banks ... I think that's what he meant to say!

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#4) On August 01, 2008 at 3:31 PM, Tastylunch (29.40) wrote:

To be honest I don't know if I will ever buy many bank stocks again. Unless they change some of the accounting rules, this is just going to happen again and you'll never know when....

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#5) On August 01, 2008 at 7:54 PM, MaskedMan2007 (99.37) wrote:

The article is very interesting. A beaten sector like the financials will not rebound as quick as it rebounded in the last few weeks when it will be a true new bull market in the sector. Like the technologies, this sector should move sideways for a long period (few months) trading around is 50 and 200 days moving average (personnaly I use the 150 days MA) before considering any consolidation in the sector. So in short, this is not the time to take any new long positions in this sector.

Right now the financial sector is at the top of a major down trend. Chances are high that it will break short term supports and resume is down trend very soon. Same for the whole market.

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