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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (21730)2/8/2006 6:01:38 PM
From: E_K_S  Read Replies (1) of 78670
 
I have hedged some of my bank stocks by selling some covered calls to lock in some recent gains. The trading activity in several of the financial stocks including C, JPM and WM look weak against the general move of the market. It's possible that new money is going into different sectors than banks.

C has had the biggest correction from it's recent high (in January) and I am looking at adding to my current position if it trades down to $42. Their dividend is looking quite attractive now over 4% and the stock is trading with a PE less than 10. C is quite a value proposition at these levels.

My largest bank stock position is in the regional bank NYB. I continue to add to this position at current levels.

Once the Fed signals that the current interest rate hikes are done, the financial sector should attempt another move higher. NYB's earnings should benefit the most (from the banks I hold) from flat rates.

Do you still like C at current levels?

EKS
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