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The Latest Banking-Sector Credit Crisis Will Lead to That Sector’s Next Group of Profit Plays
Three major U.S. banks – including Fifth Third Bancorp. (FITB) and Wachovia Corp. (WB) – got clobbered in recent days on the news that they’ve lost another $1.6 billion by making investments in the Citigroup Inc. (C) Falcon hedge fund that lost 75% of its value earlier this year.
It’s just the latest chapter in a continuing credit-crisis saga that’s gone on for so long that many investors have become numb to the news: They regard all new developments with a kind of “so what” attitude, or just ignore the news completely.
Believe me when I say that such a response is…
29May2008 | Money Morning | Comments Off | ContinuedProfiting from Divergences? You should be…
On December 13th, 2007 I wrote a piece, which pointed to shorting opportunities in the large cap sector. At this point in the game, Apple was trading for $189 and Google at $698. In a Chart of the Day segment titled, “Utilizing Divergences for Big Gains: Two tech giants ripe to fall,†I had stated the following:
â€It was just a day ago when I discovered two bearish divergences occurring simultaneously between the RSI and price on both Apple and Google’s charts. After an impressive run, these two plays are losing buying momentum and are at the end of the road.â€
Example setup…
16Jan2008 | S. Oakes | Comments Off | Continued
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