If you're short, I'm the sucker going long....: chart FITB

Wednesday, December 3, 2008

chart FITB

Something is wrong, maybe somebody was liquidating, or it's an out layer. There is a green line that is the Regional bank etf

5 comments:

Tony said...: Just a thought: FITB is based here in the heart of the rust belt and the rumors are rampant that the Big 3 bailout is failing in Congress.

This item on yahoo about commercial real estate and FITB's exposure:

"Fifth Third of Grand Rapids' total nonperforming assets ratio of 3.92% was by far the highest among U.S. banks with at least $50 billion in total assets, reflecting its concentration in the troubled Michigan market."

This place is a hell-hole and FITB is at the epicenter.; December 3, 2008 at 7:14 PM
Tony said...: Not sure why it diverged today thought.; December 3, 2008 at 7:15 PM
Eric said...: that commercial real estate shoe is much smaller.

I'll say that the CDO shoe should have that priced into it. In a usuall cycle, all the securitized loans would be on bank books, and they are only in the big money centers and ibanks.

but the bears should make a run at the regionals on this meme at one point. That has me spooked.

But whoever FITB has doing the conference calls is completely full of shit, so I won't touch them.

But we may have a developing short here.; December 3, 2008 at 8:03 PM
Tony said...: Interestingly, FITB showed up on T.Lo's beauty contest losers excel.

Now she has a "sell below" column, but apparently this apparently is not a "sell stop" per se. Is FITB a buy or sell according to her list?; December 4, 2008 at 8:10 AM
Eric said...: the stops are technical.

but the Relative stregnth is what it shows "Winners Losers"

Problem is it's relative to similar stocks is under performing.

I've resolved it's one to keep my eye on.; December 4, 2008 at 9:07 AM

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