XLF, Banking and Financial Sector Stocks
- SteveT
- JenL_2
- Kirk
- Outrider
- destroyer_man
- Kirk
- JenL_2
- JenL_2
- Outrider
- Kirk
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» 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
» JenL_2 - Inflection Point?
Nice movement in this sector lately:Am above water now on XLF and almost with BTO....hmmm - wonder if I should buy BAC and WM while still cheap. These bank stocks have been beaten down so long - Is it an inflection point or will we have to wait until the final Fed raising of rates?.....Jen
-- posted by JenL_2
» Outrider - Thanks, Jen
...for hunting this one down. I do not curently own any financial stocks (to answer your question from the "Ask Jen" thread, but have been reading up. Just looking for a non-tech home for a bit of cash. So far, I haven't found anything (in this sector and elsewhere) that is a real attention grabber.I did pick up some shares of Wrigley a couple of weeks back when it dipped to (I thought undeserved) lows on the heels of the Proctor Gamble slide. But, I had been watching that one for a long while. This sector is showing some signs of life - but I'm still shopping. Thanks for all you do.
-- posted by Outrider
» Kirk - Pretty amazing relative performance of the financial sector.
Pretty amazing relative performance of the financial sector.Our Sector Spyders, XLF, beat the NASDAQ the last two weeks!
<img src=http://chart.neural.com/servlet/GIFChart... width=450 height=250>
A nice "W" bottom here with high volume on the upswing!
<img src=http://chart.neural.com/servlet/GIFChart... width=450 height=250>
Looks like my fav Citigroup even hit the magic 20% correction level!
<img src=http://chart.neural.com/servlet/GIFChart... width=450 height=250>
I just amazes me how you can make a quick 25% by identifying a great stock and company that hits a 20% correction.
-- posted by Kirk
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