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Blue chip bank buys |
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| Aug 07, 2008 11:00 AM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Newsletters, Bank of America (BAC), BB and T (BBT), Wells Fargo (WFC), Stocks to Buy
"It is increasingly evident that the banking sector is dividing into two distinct camps; the have's and the have not's. The 'have's' are: Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) among the big cap area; "The impressive rally to date notwithstanding, it still remains to be seen whether another retracement will develop should crude oil, gold and other commodities reverse course. "A strong rally in these sectors could send the market down again. While Mr. Market can do whatever he pleases, it is highly unusual for stocks to bottom in the summer. "It would not be imprudent to see what September and October have to offer before anyone begins to talk seriously about the bottom. For investors with an appetite for the financials, however, we would suggest dusting off that old tried and true tactic of dollar cost averaging as a prudent means to establish positions." Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors. Permalink | Email this | Comments<map name="google_ad_map_145-1278057"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1278057?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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Financials have staged an impressive rally from extremely oversold levels," says Add Comment
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