Talked with a BBT loan officer the other day. Business in the Fredericksburg, Va. area is still going well. Her book, small business loans up to $150K, is down from last year. She didn't have direct knowlege, but thinks HELOC loans will cause some losses for their branch. I expect earnings will meet estimates, loan loss reserves will be increased, guidance will be cautious. Longterm BBT will pick up deposits from failed banks plus their business. Maybe they will rescue a part of Wacovia, remember they are the 14th largest bank and their balance sheet is very, very sound. onesigma
There are a few banks out there that are in trouble right now so the news has finally arrived. I haven't yet seen any information that says BBT is in trouble, in fact I've seen quite the opposite. No matter their rational the shorts are in charge here because the trade works right now. There are no buyers willing to jump in and catch the falling knife.
I think what you need to do is pick your buy point and keep your bat on your shoulder until you get to that point. For example some people would say $20 is a nice round number, whereas others might choose $18.80 since this would be the point where the stock yields 10 percent.