Saturday, July 12, 2008

Financial Stocks

Stock markets were spooked by the collapse of IndyMac, the third largest bank failure in US history, and the sharp fall of Fannie Mae and Freddie Mac over the past week.

Massive volume in the last few days indicates the presence of strong buyers who see value at current prices. Entry at this stage would be exceedingly risky, but the stocks are worth watching over the next few weeks.

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