These stocks keep making lower lows. However, I keep having a feeling that I can buy close to the bottom of the better bank stocks if there is such a thing, and make profit. I keep looking for a reason to go long, but can not find one......yet.
Probably because deep down, you believe the system will right the ship and since banks are the lifeblood of world economies, their roles are essential.
You are a knife catcher? It's best to purchase a great company at a fair price, than a fair company at a great price. Warren Buffett You are trying to buy bad companies at bad prices, by the way.
I thought Buffet owns a bunch of bank stocks and bought them higher than me if I decide to buy. Its amazing to watch these stocks continue to tank today. Every buyer is losing money per minute.
You keep wanting to buy them because you realize that the companies who are going to be fixing this entire mess (eventually) are the finance companies. The question just remains... which one. Microsoft isn't going to be running the due diligence on the next mega merger (pfizer??) M&A and investment banking services will always be there. Its just going to be a bit leaner But they'll still be reaping their large fees