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« Talking Tech | Main | Whats Happening On Wall Street »

Banks Rebounding

By admin | June 20, 2008

Take it to the Bank: Citigroup (C), Wachovia (WB), Bank of America (BAC), Financial Select SPDR (XLF) Financials are on the rebound although there were rumors of a second quarter writedown for Citi, and WB is on the lookout for a new CEO. Terranova was impressed by the reversal in XLF, while Macke said financials could be bought. However, Najarian was not excited, and said the lift was merely short covering. Put buying activity indicates trouble brewing, he said, noting every day BAC goes a little bit lower.

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