Cramer's Bank Stocks2

Posted by: sarah z

Updated:
09.26.07
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From 9-21-07:

"Brokers are too hard. Are banks too hard? I see this big downgrade to sell on the banks by Merrill and I have to admit that it is tempting. I just hit up the short interest for Wells Fargo (WFC) and Wachovia Bank (WB). These numbers are extraordinary. There is so much short pressure on these names that I have to believe they are calling every analyst and demanding downgrades and the merchandising of the short stories. I find it laughable.

If you pick a bank with a 5% yield and you just wait, you will make good money from the cuts alone. Most can't wait. Waiting is another way to outperform if you are spotted 5%."

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