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ProShares UltraShort Financials Message Board

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  • smoothinvestorguy smoothinvestorguy Mar 26, 2008 8:39 AM Flag

    Financials...Bottom In? I think NOT...

    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.

    More bad news to come, bank on it!

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    • Here is another...

      U.S. Banks: Estimates lowered again, led by Citigroup@OPCO

      Oppenheimer cut their Q1 estimates for U.S. banks, led by Citigroup (C), to reflect mortgage and CDO related write-downs.

      Citigroup's Q1 estimate was lowered to ($1.15) from (28c) and 2008 estimate to (15c) from 75c to reflect potential Q1 write-downs on leveraged loans and collateralized debt obligations of $13.1B.

      OPCO's analyst believes this will not be the last of the estimate cuts and thinks stocks have further downside.


      I happen to agree! The Fed blew their wad and it won't be enough! I am short Lehman Brothers from $47.16 and long and strong SKF from $102.52!

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