BANK STOCKS OFF THE CHARTS
Excellent chart and discussion.
Scarlet Fu on the correlation between Case Shiller Housing Index and the KBW Bank Index.
I never talk about investing on the site but Bank of America is a $30 stock within three years. It trades at $12+ now but could easily be bought around $10.75 in a market pullback. Their liability for mortgage fraud is finally quantified and manageable. They are a force in the origination market, the only upside to the destructive purchase of Countrywide. I picked up a chunk at $6 last year. I gave up fighting the Fed awhile ago. I still consider BofA to be a semi-fraudulent, mostly grotesque company.
This does not constitute investment advice. You would be a fool to follow my trades. You might get rich or you might go broke.