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Politics : Idea Of The Day
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To: Jerry Olson who wrote (17912)4/14/1998 2:55:00 AM
From: IQBAL LATIF  Read Replies (3) of 50167
 
I am expecting after this merger halloballo is over a set back in BKX- I am preparing to lock some positions to take advantage of any set back- traditionally banks have never traded at 24-25 P/E's and I just don't like market getting ahead of itself. I see once this dust settles it would take nearly a couple of years before the savings from mergers and efficiencies trickle down during this time BKX will consolidate and I think the important support of 755 will be tested. This is my birds eye view I look into future and present what I think are possible spots where trouble is brewing. Making profit on banks is one thing spotting the top is another. I have been successful in the first now positioning for the second. I posted WFC and MEL on this thread both have done extremely well MEL is on 72 and is possibly the only one which has potential takeover long overdue. Overall I am researching and finalizing my exotic trades on BKX at the moment.
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