S&p The Market And Hban
Q: Well i think part of the reason why the indexes along with the stocks went down was because the the S&P hit a resistence level yesterday at around 860 and used the few bad news as an excuse to sell off. Now, awhile back when the banks were getting cocky about how they wanted to pay the feds back ASAP, the market took it as a positive news sending the bank shares up. Now, G.Sachs comes out ahead of time saying that it's going to pay the feds and the market is taking it negatively GO FIGURE.!! It just tells you how inconsistent the investors are. The market is expecting one more small down turn and we are going up but that wont come this month. Yesterday HBAN's intraday high was around $3.5 ish what this means is that it has hit a resistence level and sold off. It also means that $3.5 level will be retested again before it will go up. You all notice HBAN has moved higher than practically any other bank (if i remember correctly last 2 trading sessions it was up about 60% before selling off yesterday). So long term HBAN is a screaming buy and will achieve a level where all banks fell of the cliff from their peek If you check the charts you ll notice the peek around $7 to $$8 and a sharp down turn there after. That peek is the target for all banks infact for all stocks from technical point of view. Over all buy now and hold and if it goes down buy more to average your cost.
A: wow i am kinda wondering why HBAN is the only one moving up the most Could it be that it may be or may become a take over target. After all, the big banks got what they wanted and so if the small players to keep up with the pace they in turn should merge/take over the other small players It only makes sense It's their turn now. Something to ponder on at least Your thoughs are appreciated. well gents like i said before HBAN would hit $3.5 then bounced back and i said it will retest it. Now it's gone as high as $3.8 in the intraday therefore i am hoping it will close around there or little higher to $4.00 Why you ask it's because it has a target price at around $4.35 to $4.5 and it will achieve it by next tuesday We are all expecting a one more down turn So it would be prudent for you to sell around that peak price. On the down turn for the S&P the price wont go below the devils number of 666. it will however reach high 6 hundreds to low 700's This will give you a trumendeous buying opportunity as HBAN will come down quite considerably to around $1.5 after going through few resistence levels Just hold it till tuesday One of the reasons why these stocks are going up is simply to prop up their market cap As i mentioned before that, we are expecting another down turn However a down turn when stocks are at their lowest level would be quite catastrophic where as down turn when stocks have moved up in a bear rally would not be as severe which is the case right now. If HBAN holds at levels close to 4 today, for sure by tuesday it will reach 4.5 and may over shoot a bit but besure to put a sell order around that number. Either sell all or sell about 90% Good luck to all I will probably try to buy back in on Monday. I am hoping that we have some profit taking this afternoon or in the after hours trading. I was all in on one of my accounts with HBAN my funds will not settle until Monday most likely. - to jungle88 I'm kicking myself too, I just calculated what I could have made at this point and I'm quite disgusted with my decision. But I guess as long as we make profit we should at least be glad for that! Take a look at Etrade Financial and Citizen's Republic Bank stocks. Those could have been some major movers this week as well. A lot of insider buying has been going on with Citizen's Republic as of late as well, which is usually a good sign. But don't take that as a 100% of a good sign of course. There is a potential fraud investigation going on within that company as well, if memory serves. So that would be something to be careful about as well.