XLF, Banking and Financial Sector Stocks
- Kirk
- SteveT
- MichaelC_AU
- SteveT
- JenL_2
- Kirk
- Outrider
- destroyer_man
- Kirk
- JenL_2
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» Kirk - Blue Light Special
I rolled some of today's HWP profit taking into this.<img src=http://chart.neural.com/servlet/GIFChart... width=450 height=250>
Much VALUE here
http://finance.yahoo.com/q?s=c+bac+ftu+j...
<img src=http://chart.neural.com/servlet/GIFChart... width=450 height=250>
Anyone know what usually happens after a third successful test of a bottom?
-- posted by Kirk
» MichaelC_AU - Value
I agree that this industry is a value. I like the Long-term value play implications that banks have now.However, I would not expect a turn-around until Greenspan stops applying the brakes. Interest rate hikes are hurting now.
I expect a bank rally within 18 months, hopefully back to the 18-25 PE range. My bank(CNB) is at 9 PE and 5% yield, and repurchasing its shares, but I think a bank index would be better than having just one bank, as last year's acquisition expense write-offs proved to me.
-- posted by MichaelC_AU
» SteveT - Michael
I agree with you and expect some rocky roads in the next few month. I am hopeful Greenspan will be done with his work by late Summer. This maybe a good time to pick a few banks or XLF if you like. Set a buy price and a to good to pass up price say another 10 or 15 % lower than your buy price and hope the orders are filled. If CNB is buying back shares they must feel it is a good time to buy, always a good sign. I am thinking this rate thing will resolve itself in less than 18 months. Can't see it going into election season8).-- posted by SteveT
» JenL_2 - Washington Mutual : WM
We've been talking about WM lately in chat.This from 2/18 CBSMarketWatch.com:
Rate fears create stock bargains
By Deborah Adamson
(excerpt)
Leading indicators
Washington Mutual, the nation's largest thrift, is buying back $1.8 billion worth of shares, said David Fried, editor of The Buyback Letter at
Last year, Washington Mutual bought back more than 31 million shares out of up to 50 million it expects to purchase, or 8.7 percent of total outstanding shares.
When companies buy back their stock, it's a big vote of confidence in their business. According to The Buyback Letter, a stock market study found that value buyback stocks consistently do better than other stocks.
Fried also likes Washington Mutual (WM) because it's an inexpensive stock. The thrift currently trades at a price-to-earnings ratio of 7 while the company grows at 12 to 13 percent a year. In addition, Washington Mutual is beefing up its financial services business -- a shift Fried likes.
Washington Mutual closed at 21 13/16 on Friday, down 5/8.
......Jen
-- posted by JenL_2
» Kirk - BTO, Bank of America, XLF, Mellon Bank, Bank One….
BTO, Bank of America, XLF, Wash Mutual, Bank One….talk about a bear market!<img src=http://iccharts.quicken.com/bin/icenter.... width=470 height=180>
Citigroup and WellsFargo are the only two doing good and fair.
<img src=http://iccharts.quicken.com/bin/icenter.... width=470 height=180>
You can get some pretty decent yields on these beaten down banks. Two are paying over 6%!
http://finance.yahoo.com/q?s=one+ftu&d=t
-- posted by Kirk
» destroyer_man - Citibank -
Citibank will not do business with Americans who do legal business with guns. Does this shock any of you? I, also, choose not to do business with Citibank, so I cut up my charge card and sold my 5 shares in protest. Alas, nobody cares, guess I will purchase more MO.Oh boy! on with the route to infinity.
-- posted by destroyer_man
» Kirk - Jerry
JerrySo, you keep the guns to shoot those that murder babies? 8)
Please, don't take offense.!!!
If you want to discuss this further, then move the discussion to the politics thread and we can hash it out there.
Nice thing about our country, we are ALL allowed to have opinions that others feel are "out there" and we are all allowed to do business with who we choose.
BTW, I don't own a rifle or hand gun, but I would like my constitutional right to own one to remain. I worry that they play too many games making laws and then modifying the weapons to get around the laws. IF you have more info on this and Citibanks' part in it, PLEASE post it to the Politics thread.
-- posted by Kirk
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