Quarter to Quarter Aggressive Growth Stocks Message Board

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Strategies & Market Trends : Quarter to Quarter Aggressive Growth Stocks

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From: Jack Hartmann	4/20/2009 3:38:14 PM
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Maybe the only ones left are the short term traders. Wall Street tumbles as investors dump financials . AP, 33 mins ago Investors grew fearful Monday that a recovery by the nation's biggest banks could be endangered by rising levels of bad debt. Stocks fell sharply Monday after Bank of America Corp. said it set aside $13.4 billion to cover bad debts even as it posted earnings that came in ahead of expectations. Other big banks have also put up similar increases in provisions for soured loans as they reported results in recent weeks. Major market indicators tumbled more than 3 percent, including the Dow Jones industrial average, which fell 250 points. Traders had been looking for some pullback after the Dow Jones industrial average jumped 24 percent from 12-year lows in early March, led largely by a recovery in banking stocks. It is almost like the sign went to the short side of the market. Sorta like the old Bugs Bunny cartoon of Rabbit vs duck season.

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