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Thursday, March 12, 2009

Signs of Bottoming?

So what's going on with the banks?  Just not long ago investors are so afraid about all banks going for nationalization that they dumped the once so called blue-chip banks as if they are going out of business like Circuit City.  Therefore we saw used to be stars such as Citigroup(C) and Bank of America(BAC) trading as low as 97 cents and $2.53 respectively.  And both of them are part of Dow 30 stocks.

When the bears were ready for their last strike on these two dying banks, the positive comments from the CEO resurrect the bulls back as both company saw their stocks rose almost 100% in just 3 days.   

So could this finally be "The Bottom" we've been looking for?  With both stocks all trading at multi-year low, even this my not be the real bottom, as long as the banks are "too big to fail", this may be the best time to invest.

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