I definitely agree. I thought some of the financials looked attractive during the summer (CTBK, STI, MTB, UB) but now that there has been a price correction, I'd keep away from them again. The future won't be nearly as bright as the past.
This whole commodities bubble and subsequent burst has to be one of the most insane things I've ever seen in the market. In a period of roughly 8-10 months, we've seen stocks with 3 to 6-fold increases in prices followed by an almost equally dramatic fall. Yet, there have not been very many dramatic changes in regards to fundamentals.
This market feels more like the market from the 19th Century where boom and bust cycles would hardly be a year apart.
The Burst Commodities Bubble [View article]
This whole commodities bubble and subsequent burst has to be one of the most insane things I've ever seen in the market. In a period of roughly 8-10 months, we've seen stocks with 3 to 6-fold increases in prices followed by an almost equally dramatic fall. Yet, there have not been very many dramatic changes in regards to fundamentals.
This market feels more like the market from the 19th Century where boom and bust cycles would hardly be a year apart.