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Market bear buys banks

Posted on June 23, 2008

We continue to view stocks as fundamentally bearish, says Richard Rhodes (http://www.thestockadvisors.com/ccount/click.php?id=2136). Despite this view, in his The Rhodes Report (http://www.thestockadvisors.com/ccount/click.php?id=2136), he's going long a pair of Southeastern banking stocks. Our view through the '2008 recession prism' sees as tighter credit transitions from a Wall Street 'earthquake' into a series of Main Steet 'tremors' related to lowered consumer spending patterns. As the consumer falters, earnings estimates will be taken down from already lofty levels. Technically, prices...

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earnings , going long , lows , sp , trading