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Bank Stocks Down 11.56% Yesterday

MI has upside resistance at around $30 / share... I intend to start off-loading shares, graually, above $25, just to be cautious. I hope to meet with *****, this afternoon, to get a better fix on this. Right now, we're sitting in deeply oversold territory.

Bank Stocks Down 11.56% Yesterday

Yes! Capitulation has finally happened! I'm looking at MI and once I'm sure, that everyone who wants to sell, has sold, I intend to pull the trigger! MI is one of the very few banks, which acted pro-activly to raise capital, long before this became a crisis... She sold a data-processing concern, one which I wanted her to sell, even had there been no capiatal reason for doing so. MI is the parent company of Southwest Bank, in Saint Louis (the one that is often the first to drop (raise) rates, when the fed moves. She's even suspended construction of some new branches, in Saint Louis, until things are stable. She's third on a (blanked-out) list of banks, which are in good shape (two banks are better, but I have no idea what they are). Also, the mortgage bailout has covered her (locally), with respect to the closing of our auto plants, which would have surely caused defaults to occur, in the saint Louis area. I want to verify that the market agrees with me, before I increase my holdings, but accumualtion seems to be in order. A well-deserved reward, for one of the few, "who saw this coming and took the necessary steps."