daffy

Financials and Retail: Not as Dire as They Seem

I love it:

"give yourself some time for stupid to be finished"

Financials and Retail: Not as Dire as They Seem

Don't agree with retail at all. I have a lot of discretionary income and I have to say, it is going into the market right now, not to BBY, or JWN, or a new car, et cterea. The spending of my discretionary income has gone almost to zero. If that is the case with someone who has discretionary income, what say about those who don't?

Financials? whoa . . . I made a few bucks on the cfc-bac deal. Might make a few more if CFC gets down to four and BAC stays put. Doubt it though, it will have to look pretty darned good. Although, a 3/4 point reduction might just get one a good short term gain on the deal. Timing there. Now might be the time to get into that one, or next week. Other than that, well, I am staying away from financials. Too risky. The only financial I am playing with right now is ETFC (and some might say I am crazy for doing that).

The hypothesis about 02-03 prices is interesting. If you take the 80 month EMA, and find that the stock price is under that AND is under the 2002 share price, you might have a stock that is worth investigating (in financials and retail). BAC falls short by about 5$ on the share price. I would say that is too risky right now. If the price went to $29, yeah, I would buy. This summer isn't going to be very nice to financial stocks, but there will be a few winners, and they will bethe agressive ones.

Opinions and conjecture.

embarassing disclosure: 1% of my portfolio is CFC @ $16.80. OUCH.