Stock is in a precipitous slide, with no relief in sight. Check out lookaheadcharts.com. Sorry I don't know how to do links.
While you are there, check out FTU C JPM and others. While I and others may make some comic relief, we may be masking what could be a serious problem.
Check out "weekly second opinion" available on Suretrade. They have been advising for several weeks to RUN, not walk away from FLT.
I can't buy what I hear on this board and the BKB board that "investors don't understand the economies to be reaped from this merger"
I think astute investors can analyze this thing pretty well and they are not stepping up to the plate to pick off this deal at bargain prices.
But it really is worse...Fleet's performance for the past year has been poor and this current slide started in January, with no sign of a let up.
If astute investor thought that this was a good deal or that Fleet itself was a good bet for a takeover at $50 someplace down the road, they would be all over this stock.
So why not?
Not because the street is down on Financials, quite the opposite is true.
Not because the street is down on Regional Banks. As the soon to be eigth largest bank in the country and supposedly with assets like Quick & Reilly, Fleet should have outgrown it's regional look.
I can only reach one conclusion, they don't think Fleet is worth the risk versus possible reward.
While we can all sit here and posit what we think Fleet is worth and what it will do in the future, we really don't count! It's what those to whom we might sell our Fleet shares think and clearly those thoughts aren't good!
Anyone have any ideas? Sit tight is not one of them!
Market, sector, all moving up but FLT looks like it is waiting for a shoe to drop. TA stinks at a time when it should be positive; don't know what evil this way comes but market forecasting something. FWIW don't put too much emphasis on MarketEdge Second Opnion Weekly from Suretrade; data OK but conclusions suspect.