Banks, banks, banks -- that's the earnings story this week. With Goldman beating nicely in its earnings report this morning, can we get long now and bank on returns? Or is now the time to bail?
We asked John Roque, managing director of WJB Capital Group, what he thinks about the financials. And what he thinks is that they are sales. The technical analysis specialist and strategist sees little chance of financials recovering fully from the beatings the sector took in 2007 and '08. Roque draws a parallel between the financial stocks today and semiconductors after the Internet bubble popped, leaving former leaders such as Intel, Microsoft and Cisco dead money to a whole generation of stock pickers. The banks and brokers are as dead as the one-time market-leading techs and semiconductors have been since 2004.Read More »from The Big Banks: Is It Time to Buy or Bail?