This is a fantastic market for people that want to hold a stock longer than 3 months.This bank is a give-a-way at the current price.The bank is well capitalized to weather this storm. It is not going to disappear.In one year this bank will be over $10/share, easily.
You weren't posting to me were you?Because I have never shorted. I am in at an average cost of 4.35 per share. I won't average down at this point because who knows where the general market will go, carrying this with it. There is still selling going on here, but it might be manipulation. Or maybe it's just people with no patience or will to hold longer.
Where do you think the money will come from to recover the losses for 2007?LOOK AT THE BOTTOM LINE FROM 07: Income Available to Common Incl. Extra. Items -(45,249); Diluted EPS of (1.85) - parenthises = loss In '06 it was + $15,517 (gain in thousands); .65 EPSIn '05 it was + $23,210 (gain in thousands); 1.13 EPSHow do they make up for the losses in '07, Monopoly money?
How about by their positive cash flow, and positive earnings? they had a loss ONLY because of their goodwill impairment.