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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (34812)	7/21/2009 3:48:24 PM
From: E_K_S	Read Replies (1) \| Respond to of 78753

Sold my starter position in OGE Energy Corp. (OGE). Collected the 5.5% dividend and decided to book my 16% return from my recent buy in May. I started to build back up my only bank position, New York Community Bancorp Inc. (NYB) which I sold a large portion of early last year at much higher levels. The company has continued to make it's dividend which now yields around 10%. I consider this bank stock to be one of the better managed banks w/o little to no loan defaults. They never took any TARP monies when it was being handed out. NYB announces earnings next week and they already alerted the market that they raised their quarterly guidance. They make money on their spread which is larger than normal since their cost of funds is so small. I have no other direct exposure to financials than a few shares of the ETF XLF. It seems like a good time to nibble at some NYB at current depressed levels. If the economy is really going to turn the corner in 2010, then it's probably a good time to look at some of the better quality banking stocks. EKS