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. image

Here is a good reading
Why investors should care about the Greek crisis

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