Its time to get back into the brokers, banks and financials

Well this kinda bottom feeding is why the market isn't breaking hard to downside. Once the bottom feeders are out of money, which shouldnt be too long, it will go.
 
Quote from RiceRocket:

Why is everyone looking at all these shit companies in the financials trying to find a bottom. Unless you can read their financial statements and know the future, you're catching a falling knife tipped with a bomb.

GS is the only financial in the US worth owning. Paulson knows how to tip them off, so they are always going to make it out on top.

If you want to play financials, use GS as a a proxy for the XLF. If any of the banks or broker dealers do better, GS is going higher.
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Hi RiceRocket
good point... Thanks... GS is now well above its March lows of $155 to $160. Ag
 
Quote from Port1385:

This cant go on forever....
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It wont go on forever, but it tends to go on a hell of a lot longer than people think it will. Tends to be that the area which starts the mess goes much lower, much much lower even then anyone thinks is possible. Its not entirely unreasonable to expect that the housing and financials will be this decades Internet stocks. Look at those and see what you get for catching falling swords. It can be tempting to pick up some of the "better" names as prices go lower and lower, and certainly I think if your dealing with an IRA or other longer term money its not going to be too much of an issue, but trading wise it can be pretty dangerous. I've picked up some WFC, GS and RBS, but very small positions.
 
Quote from MrDODGE:

The largest credit and mortgage crisis in history and you expect only a single major bank to fail?

Don't touch financials.
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Word.Wait until these bastards start writing down NON subprime loans, mark my words it will happen. Even though no one on ET seems to think so seeing as i've started like 3 threads on it with no response :confused:
 
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