First, the good: Regions Financial (RF), Huntington Bancshares (HBAN) and Fifth Third Bank (FITB) are three regional banks that I regard as great calls on the turn in the economy, and I would buy all three. Regions is the worst of the three, and that matters because right now people actually want the worst ones, because they could fly the most if things get better. Huntington didn't have a great quarter but has an energized management, and I think this one could be on track for a double. Fifth Third? What can I say, Goldman Sachs loves it, as it has built a gigantic book of reserves and is doing everything right. It reminds me of the old Fifth Third -- conservative, lean and mean.

First, the good: Regions Financial (RF), Huntington Bancshares (HBAN) and Fifth Third Bank (FITB) are three regional banks that I regard as great calls on the turn in the economy, and I would buy all three. Regions is the worst of the three, and that matters because right now people actually want the worst ones, because they could fly the most if things get better. Huntington didn't have a great quarter but has an energized management, and I think this one could be on track for a double. Fifth Third? What can I say, Goldman Sachs loves it, as it has built a gigantic book of reserves and is doing everything right. It reminds me of the old Fifth Third -- conservative, lean and mean.

First, the good: Regions Financial (RF), Huntington Bancshares (HBAN) and Fifth Third Bank (FITB) are three regional banks that I regard as great calls on the turn in the economy, and I would buy all three. Regions is the worst of the three, and that matters because right now people actually want the worst ones, because they could fly the most if things get better. Huntington didn't have a great quarter but has an energized management, and I think this one could be on track for a double. Fifth Third? What can I say, Goldman Sachs loves it, as it has built a gigantic book of reserves and is doing everything right. It reminds me of the old Fifth Third -- conservative, lean and mean.

Are you ready for the last of the good? Citigroup (C). I know the government owns a ton, I know that the people are leaving left and right, but I think most important is that it has many trading operations that are going to report magnificent earnings, not just Phibro. The company is deleveraging, and if the FDIC would get out of its hair, the company could begin to get a grip on its own non-government fate. This, like Regions Financial, just isn't a good bank right now, but when the speculative juices flow, who is to say this one won't go to $4?

The bad? These tend to be companies that just got financing to keep them alive. First is Rite Aid (RAD), which got a nice loan from GE and had comps that weren't all that bad. I like CVS (CVS), but RAD's an OK spec now that it got the loan. Six straight quarters of losses doesn't thrill me, though

The bad? These tend to be companies that just got financing to keep them alive. First is Rite Aid (RAD), which got a nice loan from GE and had comps that weren't all that bad. I like CVS (CVS), but RAD's an OK spec now that it got the loan. Six straight quarters of losses doesn't thrill me, though

Unisys (UIS) is the same way -- it just got a private placement deal that takes pressure off the balance sheet, but the company's been losing money forever, so I can't get on board. It's a tech company that has lost its way.

CIT (CIT) is ramping big, huge gains, as it keeps getting a reprieve from bankruptcy. I don't know what to make of it because the company's on life support. Even in life support you can see the darned thing go to $2 before it becomes an issue, as even GM (GMGMQ) went to $2 from $1 in the throes of bankruptcy