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Strategies & Market Trends : Canadian Options
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To: thebeach who wrote (467)5/24/1997 11:52:00 AM
From: Goldberry   of 1599
 
The last time I saw predictions like that it was on the Bre-x thread. Prepare to be wrong again.

As someone who spent a lot of years with the Banks I can assure you they will not put themselves in the limelight in a quarter result showing that kind of profit. They will hide it with a reserve adjustment first. There are several reasons why. What if things turn down in later quarters: What if the politicians start a move to increase the tax on Banks: What about there uncompleted share by back programs.

Long term purchasing Bank stocks at these levels should turn out okay but short term and even over the next year it could be risky. If prime went back up only 50 basis points my best guess is the bank shares will back of from 10-20% from these levels.

Graham
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