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Earlier this week we looked at my top 5 high fliers for 2008. Unfortunately, for every up, there is a down and that is certainly true for my portfolio. As before, we will look at results through July 31, 2008. Here they are my cellar dwellers with comments:

#5 - General Electric (GE) -19.3% Total 2008 Return
Of my cellar dwellers, GE is the one I am most bullish on. I liked it at $38 when I bought my first tranche in July/2007, and liked it even more at $29 when I bought my last tranche this month.

#4 - First Industrial Realty, Inc. (FR) -22.3% Total 2008 Return
This was my first ever dividend

Filed under: Newsletters, Bank of America (BAC), BB and T (BBT), Wells Fargo (WFC), Stocks to Buy

Financials have staged an impressive rally from extremely oversold levels," says Kelley Wright, editor of the top-rated IQ Trends, which focuses on high quality, blue chip, dividend-paying stocks. Here's his top long-term buys among banks.

"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;
SunTrust (NYSE: STI) and BB&T Corp. (NYSE: B

After reaching a new 52 week low on Monday, SunTrust jumped 10% along with all financials on Tuesday but returned to its selling pattern on Wednesday falling 5%.

Wachovia named a new CEO (from Goldman) and his first act was to announce a surprise loss of up to $2.8bn in the second quarter due to credit-related provisions and legal costs.

The annoucment was made after the market closed so Suntrust, BBT, Wachovia along with the rest of the financials will likely be hit tomorrow.