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Greece & Europe financial crisis – Stay away from the Financial Stocks – C, BAC
Yesterday (5/4/2010), when the DOW fell about 250 point , I sold my financial stocks Bank of America BAC ($17.59 0.03 +0.17%) at $17.67 and Citibank C ($4.22 -0.04 -0.94%) at $4.29 that I have been holding for last several months.
About few days ago when the media was talking about Greece having financial trouble, I didn’t give too much thought. I was thinking that it would not affect the US stock market.
However, yesterdays DOW drop after recent huge drop with world wide stock market, I decided to stay away from the financial stocks.
Also the BAC’s graph is showing lower highs and lower lows indicating typical bear trend. So I decided to sell them.
But I still think there are great opportunities with the financial stocks. Just wait this storm to pass for now.
This is BAC chart. 
Here is a good reading
Why investors should care about the Greek crisis
LIVE stock quotes
Stock Quote List
| Symbol | Last Price | Ch | Ch(%) | 1yr Est | EMA(50) | EMA(200) | Cap | P/E | Last |
| ^IXIC | 2,905.66 | +45.98 | +1.61% | N/A | N/A | 5:30pm | |||
| ^GSPC | 1,344.90 | +19.36 | +1.46% | N/A | N/A | 4:33pm | |||
| BAC | 7.84 | +0.39 | +5.23% | 8.98 | 6.40 | 6.77 | 82.602B | 745 | 4:00pm |
| C | 33.54 | +1.55 | +4.85% | 41.00 | 28.96 | 29.33 | 98.068B | 9 | 4:00pm |
| JPM | 38.28 | +0.73 | +1.94% | 46.21 | 35.43 | 34.30 | 145.5B | 8 | 4:01pm |
| WFC | 30.63 | +0.73 | +2.44% | 34.62 | 28.85 | 26.22 | 161.2B | 11 | 4:00pm |
| HBC | 44.34 | +1.17 | +2.71% | 35.36 | 39.87 | 41.32 | 159.7B | 9 | 4:04pm |
| GS | 117.53 | +4.14 | +3.65% | 131.46 | 100.40 | 105.16 | 60.681B | 25 | 4:01pm |
| Print article | This entry was posted by Chris on May 5, 2010 at 1:01 pm, and is filed under Stocks to buy. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |
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