PeakOiler

Fifth Third Bank: Drink Deeply of the Poison

"I am considering taking my entire IRA,30,000 bucks, and buying FITB LEAPS. The Jan 2010 ATM's. I understand the risk, I just feel like this stock is worth 15 bucks before then, and I am hoping for at least a double. Your article was very helpful."

My God, don't do this!!! The markets will finish their declines in December of 2008. DO NOT buy until then, and especially DO NOT BUY FINANCIALS. We are no where near the bottom, and as an assignment, suggest you review what happened in 1973-74, the biggest bear market since the Great Depression. This market is following that analog to a 'T'. That market decline ended on Dec. 26, 1974, and this one will likely come to an end in December 2008. Please don't even think about buying until then.