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Stock Ideas Investors Daily Edge Broken Banks Break Dow
Stock Ideas Investors Daily Edge Broken Banks Break Dow 
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| Broken Banks Break Dow |
| Saturday, 12 April 2008 | ||||||||
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Banks Leading Dow Down? Clearly, we can no longer believe U.S. banks when they claim to be done declaring multi-billion-dollar losses. The IMF reports that falling home prices and rising delinquencies could mean another $565 billion in mortgage-market losses. If you toss in the losses from subprime trades that Wall Street sucked up willy nilly, the final tally runs to $945 billion.  It was the addition of smoke-and-mirror housing gains into U.S. stocks that pulled the Dow out of the doldrums and pushed U.S. blue chips to new highs in 2006 and 2007. The loss of those gains is now breaking the collective back of U.S. Banks. The group as a whole has shed 30% over the past few months. A few leading lights, like Citigroup (C: NYSE) have nearly doubled that loss. Thanks to the broken banks, you can expect the Dow to double its losses too -- at minimum -- over the next few months. Adam Lass Senior Editor, WaveStrength Options Weekly
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