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Feels like we have been over bought for a while and are due for a nice pull back....
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Stock Market/Investing/Day Trading/Speculative Trading Thread (3 Viewers)
- Thread starter That SOB Van Owen
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Regional banks ripping up...
Bought into $KEY and back into $WAL a couple months back....
Bought into $KEY and back into $WAL a couple months back....
BingoDingo
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Well, if there is gonna be a recession...having a recession that has minimal impact to consumers is probably the best one to have.
In that scenario, Bank Consolidation is gonna boom...so buy and hold big banks and enjoy?
Toe
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Regional banks ripping up...
Bought into $KEY and back into $WAL a couple months back....
Ugh, my regional banks fund is still a long way from recovering from this spring. By far my biggest loser YTD. At least I was able to buy some more and get my cost basis down a bit...
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Yeah I traded that area, but now I think I have 2 really good holdings for the long term at compelling cost basis.
Yeah $WAL was one of my better holdings, but I dumped it when concerns started to rise... I figured $WAL was a good bank before, if it survives I am getting it at a massive discount. Ultimately the sign to buy was Cramer saying to avoid it. Since then I am up around 53%.
$KEY was a safer play I felt. I mainly bought it because it was seemed like a good bank that didn't have much of a risk of heading to the graveyard. I also like that is was trading at a sub 1 price to book value and had a strong dividend track record usually increasing dividends while having a low payout ratio. I want to say its dividend average was like 3% and based on my cost basis I locked in an 8% yield. So felt like I got a good deal there.
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BingoDingo
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Good. Good.
BingoDingo
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Nice. Good shit.
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BingoDingo
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new high score! that's good, right?
BingoDingo
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I think that includes intra-government loans also...i think debt servicing on holdings is well over 500 billion now. So an increase in about ~125 billion since the Pandemic... basically the Department of Transportation's annual budget. Not ideal, lol.
BingoDingo
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Yeesh.
That doesn't seem like a good trend.
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