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Bank Index Replies |
Suomodo
Veteran Poster
Joined: 21 Mar 2008
Posts: 195
Location: Bratislava, Slovakia
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 Posted: Fri Jun 13, 2008 5:02 am Post subject: |
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| rffrydr wrote: | There just so much more of it than there was a while ago. Dilution and oversold indicators don't mix.
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Rffrydr,
Thats a good point,
however I see "good" banks with no subprime or CDO or whatsoever exposure trading at valuations (if we can speak of any serious estimates of valuations now ) that even a 50% cut in dividend still makes 4-5% yield. The selling in banks can not go forever and at some point they turn, this turn can be massive, enough when those short have to cover...
And if we see really some write-ups in 3Q ...
For a long term engagement in selected regional banks .... it was a buy for me..
My BIR is 12% up since yesterday morning ... |
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 7977
Location: Sunny California
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| Posted: Thu Jun 12, 2008 3:52 pm Post subject: |
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There just so much more of it than there was a while ago. Dilution and oversold indicators don't mix.
There is some chatter that US financials are being pressured into selling overseas assets and repatriating into dollars. I hope that's not all there is behind this comeback. Quid pro quo with Saudis? That would be a new kind of G8.
_________________
Today is the Tomorrow you worried about Yesterday! |
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Suomodo
Veteran Poster
Joined: 21 Mar 2008
Posts: 195
Location: Bratislava, Slovakia
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| Posted: Thu Jun 12, 2008 3:13 pm Post subject: |
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BKX now most oversold in last 25 years or so...
http://finance.yahoo.com/echarts?s=%5EBKX#symbol=%5EBKX;range=my
If Banks rebound 25% to a BKX of app 85 (and that is just a technical rebound) they lift SPX alone by 4% even if all other stocks stay where they are..
I think 50 SPX points banks and 70 the rest gives us so +120 or 1450, + breaking the stop losses at 1440 thats +30 
well 1470 is not unrealistic within month should the banks really rebound ... |
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Suomodo
Veteran Poster
Joined: 21 Mar 2008
Posts: 195
Location: Bratislava, Slovakia
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| Posted: Thu Jun 05, 2008 12:28 am Post subject: |
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BKX breaking the support at 75.
http://finance.yahoo.com/q?s=%5EBKX
Where goes the piggie there goes the tail?
Or panic sell-off posed for a big rebound lifting SPX?
I still wait a couple of days but I have a finger on the trigger to go long should we fall under DJIA 12100 and short term sentiment oversold. |
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 7977
Location: Sunny California
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TRS
Veteran Poster
Joined: 11 Aug 2005
Posts: 180
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| Posted: Wed Nov 30, 2005 7:39 pm Post subject: |
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The ETF, XLF can be traded. It mirrors the BKX index. Also options available.
Notice the high volume on the XLF today. RSI and MACD tracking lower.
http://stockcharts.com/def/servlet/SC.web?c=XLF |
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