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Distressed Regional Banks

I continue to focus on investing in distressed regional banks. I’m not comfortable investing in the momentum names right now so I’m nibbling a bit on the value side. As I mentioned earlier in the week, the low hanging fruit has generally been picked already. The only spot I am finding value is with a select group of regional banks. I added SNV back this morning at $2.82. I also currently own HBAN, KEY and MI. I’m looking to reenter my position in RF. Some other regional banks to consider are ZION, FITB and STI.

§2450 · January 29, 2010 · Uncategorized · · [Print]
  • Ray, I saw you posted a comment but for some reason it shows up in my wordpress dashboard but not on disqus. I didn't want you to think I deleted it.
  • roscoe_casita
    IF the VIX closes above 28. a VIX BB2.0 Weekly sell signal triggers, (From EvilSpeculator)
  • I'm taking a shot at $PGJ at $22.3. Very tight stop at $22.05. Basically a bet that the lows hold today and that we get a bounce on Monday. See my prior post.
  • $PGJ did not work out.
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