The regional banks are down around 10% while the S&P is down around 3%. Quite a difference, but such divergence can create opportunities. A well capitalized bank that showed profits every quarter in the bank meltdown 2008-2010 is BBT. It is down from a peak around $29.50 to around $27.02. I believe BB&T is setting a trading bottom.
They have indicated they are in the market to do a $3b or so deal for a bank (seem to be targeting the Midwest currently). They just sold $1b in bonds (a warchest?). I will have a limit order in for this bank somewhere around $26.75-26.85 to take a small position (as a trade).
Here is the chart:
GL traders. Do your own analysis and use stops.
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