3.17.2008

4 Signs Financials are in Trouble


"Todd Harrison, CEO and founder of Minyanville.com

Harrison names four keys to his view the financials are (finally) finding a bottom:

1. Time and price, meaning several months have passed since the 'credit crunch' issues first came to light and most financial stocks have fallen at least 40% in the past year.
2. The sell-side analysts becoming very bearish on the financials after being largely bullish a year ago.
3. Traders' sentiment on financials also turning from the hunt for a bottom to a rush for the exits.
4. A high-profile bankruptcy, which hasn't technically occurred. But the Fed-brokered bailout of Bear Stearns is close enough for government work."-YFinance