Nah - we're all still here, Did y'all sell a liitle bit along with me around 36? Given their admitted credit problems (don't panic -everything's relative), earnings may be impacted for the next few quarters. Like I said a while back.......
I'm still over weighted BBT - I still think a good company, but perhaps not the place to be right now. IMHO, of course. I'm back to a hold.
Where are we? At our Merrill branches blessing out the group that never says anything good about BBT.
4/8/12: STI for years...CC Country Club (Coca Cola Country Club)
Hot stock picks: OK I will bite, but don't get on me for o/t remarks or touting:
I enjoy following a couple of bank stock greenmailers, Lawrence Seidman and Jeffrey Gendell. They are seperate entities, do not work together. Seidman has taken lots of banks to the alter single handedly. Small thrifts mostly NE and MW. Seidman just 13d'd KNK in Kankakee, IL. The other fellow, Gendell already owns a ton. That bank's gonna be sold! Up $1.50 yesterday on the 13d news. Forgot to look today...
Gendell's latest is SNBC, Sun Bank in NJ. He started buying @ $10.20...latest buys include 157,000 @ $12.47....per amended 13d today. Book is about $12.40. His group owns 12-13%.
I have made nice money several times following Seidman and I might buy some KNK which is at about $33.50 now. I have a $ max on these bets so I like to do $10-20 rather than $20+.
I am long only 200 on SNBC and may just buy more of that, as if you cared...
And VCFC and VFNL in Virginia are merging to become the 3rd largest based in VA. Two nice banks... SOTR or even BBT will buy the merged entity, I hope. Long 500 VCFC.