To: ajtj99 who wrote (9696 ) 7/29/2008 2:11:56 PM From: John Pitera Read Replies (5) | Respond to XBD-- BKX-- A CHANGE --JP starting to see light at the end of the long nightmare for financial stocks????longer term buying opportunities that are arising in a number of premier companies. The problem is that another one or two of them may need to go under to complete the process. not saying that today is the bottom and this is not the ninth inning of this bear market; but more than half way through the process..... 7th inning or so?fall of 2008. Remember that these stocks have fallen so hard and for so long, and have such a huge overhang that they are not going to turn around and engage in any type of multiyear bull market without a nice long number of months where the darn things stabilize; get off of the life support machines and then have a sideways convolescence period. The fact that there are still folks who are trying to catch the bottom in these financial stocks shows the psychology of a bottom is not yet fully in place.easily the most charitable, positive thing I have had to say on these Investment banks the past 2 years .... so this is a change of pace and the initial indication that my posture and outlook on the credit crisis is changing and I'm evolving away from my very bearish prognostications of the past 18 to 24 months . I'll become more positive as we move forward, and we'll have to see how the market handles the mark downs.
