Do'nt think this is a buy on gap down

Quote from Brandonf:

I think that the financials to buy are WFC, GS and JPM, in that order.
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why would anybody financials?It is the worst sector and we are in a bear market.
GS especially.At 150 it has a long fall with any bad news.
 
Quote from dsq:

why would anybody financials?It is the worst sector and we are in a bear market.
GS especially.At 150 it has a long fall with any bad news.
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guess it depends. If you are a long term investor I think its quite safe to invest there now. Americans will need brokers and banks also during the next 20 years...
I like to buy into sectors which are hated by the public and buy the strongest stocks there.
Allianz could be one of the winners from AIG collaps for example.

But I think AIG will be taken over anyway, they will not go bankrupt.
 
I think that is exercising temptation not prudence...Although bottom fishing quality names is fine sometimes,combine worst sector and bear market and i would think there are safer opportunities.
Look at GE...It is a safe stock but this contagion looks like it spreading to GE.
I wouldnt be surprised to see GE get chopped up good.The psychology of the market is bad and not in a contrarian sense either.Just really bad.
 
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