No one likes banks these days…except
November 24, 2010
(To increase the font size in this essay – hold down the Ctrl key and keep pressing +) These days everyone seems to be dumping bank stocks – it’s all doom and gloom. Let’s get down to basics; if you took my advice to punch out a couple of weeks ago – you are now sitting pretty.
Are things going to get worse? Will the luck of the Irish run out? What about the Koreans? Are they going to start WW3 – you know what? Either way I see it – the general mood is sell, sell and sell.
The days of hold tight is over – these days its all about the short play – the question now is this: if you’ve kept your powder dry all this time – what’s the best counter for the play?
I see at least 5 gems in the horizon – let’s start with an unknown beauty – yes, I know she is in a dirty and dark place – but then again, where would you find a diamond? In a dirty and dark place perhaps? Check this out: the way I see it, she is good for at least 0.40 cents http://www.google.com/finance?client=ob&q=NASDAQ:PCBC / believe it or not, I am also a big fan of the Allied Irish Bank – AIB, that is currently bottom skimming at 0.85 cents…so go fish…the rest of this essay has been withdrawn from general circulation due to Measured Response.