In specific I want to know when has it gotten low enough to buy JPM and C. I've made some many planning puts on these two for some time but I like them both for the long term. Someone on CNBC said C had the potential to quadruple in the next 5 years. I realize the time frame is long and therefore highly probable and likely i'll forget the prediction but is this a time to jump in or do these two face more serious problems ahead.
you should buy them after they raise capital for the last time. the last one of course nobody knows when it is
Instead of buying individual names you should stick with a financial/bank ETF such as RKH or XLF. They could go much much lower, but they probably won't goto zero. If you want to play a rebound in financials over the next 5 years (and you got balls of steel) I would pick one of the above ETFs and commit 25% of my planned capital every 3 months starting today. Within 12 months you will be fully invested. Then wait and pray.
I'm still short the financials, banks, builders etc. I would not go long here for a longterm investment,,,,,just trading swing entries on the long side. Someone is going to pop.....whether that is Leh or WM we shall see. Banks like citi will be cutting dividends. The way to play financials right now is to wait patiently. The desire to catch the falling knife is obviously great for many of you.
As long as the GS's rumor, C's dividend cut question and and LEH's trouble are looming around... there is not much of room for the bankers to move up... short GS can be a good choice as it did not come down much since the crisis...