Just a general yikes. I just decided to check it out knowing what had happened over the past few days...and yikes!
I don't know if you're serious, but this MAY turn out to be horrible advice. Nobody knows exactly how deep the problems are, but this financial crisis has gone on way longer than most people on Wall Street expected. Many people felt that the financials already bottomed 2 months ago and BAM...another huge drop. It's not like something of this magnitude has happened before (excluding the great depression). There was the tech bubble, but I don't think it affected the global economy quite like this. Anyway, the institutional investors know a lot more than us, so if they think that financial stocks are bottoming out, then they'll be the first ones to drive up the price. Well, that's my 2 cents.
downer but seriously, you should do some research before you put alot of money into stocks. picks from this forum don't qualify. with that being said, i'm banking(pun intended) on that financials will recover after 4 years (normal business cycle), buyouts/mergers and bailouts. there's no way washington would let the whole banking system go down (unlike the dot coms). it's a matter of choosing one that won't go defunct. my 2 cents.
You, sir, are going to make a killing today! GS is up 10% in premarket. Smart move. Dow is up 311 points in premarket right now. http://money.cnn.com/data/premarket/index.html
All of the financial trading websites (TD Ameritrade, Scottrade, etc ...) are being hammered and are having problems. Good luck on anyone trying to make trades through those sites.
I logged into TDAmeritrade's Strategy Desk software fine... couldn't get into the site. This is one of those days I'm glad my parents picked the right country to immigrate to. lol.
I agree with most of this. The financial system is our backbone, so I don't think it will bust like the dot coms. However, there are certainly a large number of firms having trouble these days. With that said, the financials are surely to come back sometime in the future. I know they're doing well today, but they may just drop on Monday. Anyway I was just point out the fact that you can't say something like...."BUY IN 2 MONTHS"...cause it's a shorter period of time for it to get stable. I mean money is made when stocks are volatile, so if you did your research and think a firm is turning around....by all means go for it.
okay.... i dont get what point ur trying to make, but trust me, financial stocks WILL go up very soon. They are all severely underpriced right now. And obviously, invest in the well known and big financial companies that have a very little chance of closing down.
MS closed - 22.55 MS opened - 33.25 tod'ay's close - 27.21 After Hours: 26.92 -0.29 (-1.07%) very volatile.
The point I'm trying to make is that you don't know WHEN they're going to go up and there is no way of knowing how big the problems are for even the larger firms. AIG was about to go down and it is what...the largest insurer in the world with many other businesses and assets? It is also pointless to say that they WILL absolutely go up in 2 months. There are many people that thought the financial stocks were severely underpriced a few months ago, only to see them tumble even more. I respect your opinion, but it is rather an assumption.
What's up with WAMU? They dropped in the $2.50 territory now..should people be worried about banking with them?
