I believe SKF is a nice way to hedge against the financials going down. I added some shares in the $102's yesterday. We may see a pop to $110-$113 today.
I'm hearing rumors that a couple of hedge funds may go under in the near term.
Goldman themselves stated there will be up to $1.2 trillion in losses/writedowns/writeoffs when it's all said and done.
The dollar is falling again.
Gold is rising again.
Oil is on it's way back up!
Home values continue to drop!
Foreclosures continue to rise!
I listen to CNBC and can't believe what I hear. Two weeks ago, we had the 5th largest investment bank collapse. Yet the CNBC idiots/morons/fools/pumpers would have you believe we are out of the woods and now it's safe! Huh? Whatever!
Here's one indicator that we are FAR from over with the financial mess...
Bank of America-BAC: See potential $3B in Q1 write down@GSCO Goldman believes BAC could writedown $3.1B due to mainly to CDO exposure and CMBS & leveraged loans. The firm has lowered its Q1 EPS estimate to .50c and 2008 EPS estimate to $3.35 from $4.05.