Fifth Third Bancorp (FITB)

[trade2much]

MMs seem to be taking it down in premarket but I would bet it will be fairly strong by day end, since the current news hasn't hit most of the news services yet relative to the new branches and the new employees. I have it on SSP but can't find it elsewhere

[trade2much]

Good news today for FITB: hiring and adding branches.

[catdaddyrt]

wow as soon as I got out its up to 9.00+ go figure

[TheInvisibleHand ™]

I still have a tiny bit left from 1=]

[catdaddyrt]

people I'm toast on this one- moved my stop up to 6.75 last friday-followed the trend as far up as she's got for now--3k shares from 1.81 was worth the wait- glta

[catdaddyrt]

cemjq looks to be my next multi-dollar move -in time--I work full time and that allows me to ride longer than some care to do--can't count the number of times I've sold only to see a stock fly 2-300% a week later--got 3k shares of fitb -had I only known lol well glty on your next plays a couple of good ones heals things up quickly

[richme]

Glad to hear you did well. I came in late on in the scene and missed the gate, lost on CNB, CORS, FITB, and ABK. Made some in AIG but not enough to offset the big losses from CNB and CORS.

[catdaddyrt]

fitb had a nice trend from march into the end of may--june has been bouncing and sideways I think because people realize that the banks are still not stable- don't care what the stress tests and BS came up with -imo we will see more housing foreclosures and more job loss in the 4th qtr causing more bank failures and problems-been in this long since $1.81 but I see my 6.25 stop getting triggered this month-the economy is weak regardless of MR Os ridiculous statements that all is getting better--have made good on this one but would not enter it today

[richme]

I am glad that I got out when I did even though it was at a loss. You may be right on FITB; banking and financial took it heave today.

[RBKissMyAs]

It may go a buck lower before a rebound.

[richme]

Looks like FITB can go with my list of banking duds!!! Down .41 already and counting. Anyone know what is happening to cause FITB to lose ground so fast?

[jgbuz]

looks like its going that way now

GO FITB

[catdaddyrt]

sorry sent you a private message--this board is not to lively

[richme]

New to the Board. I think the new target is $11.00; I just read it and that was what influenced me to buy after a string of losses in CNB, CORS, and ABK. I am hoping for good appreciation here to make up on the others.

[catdaddyrt]

was hoping to trend up to$9.00 before more bad news comes out about more bank failures-- I'm afraid this fall we might take another fall--have made good money on fitb -- don't really like the banks and I was told flipping was the way to go but when I saw $1.81 had to take it semi-long-its all good--I work full time so I get to let some monies sit for a while--glty


ron

[RBKissMyAs]

@6.25, you'll be a happy camper. Can't complain about that!

[catdaddyrt]

Is this board dead or what?

[catdaddyrt]

still waiting on my $9.00 target--been long since march @1.81 closer to my 6.25 stop than target

[mrlomo]

My guess is that it was becuse of the $1.1B 2nd offering announced today. I think I'm going to be on the sidelines for going long for a bit.

[emmertz]

Geez. I can't locate news yet. Anyone have news on the late afternoon freefall?

[RBKissMyAs]

Welp, got a surprise this AM. Switched back long here and ended the day even after earning back the FAZ trouncing. Looks like the banks got a shot in the arm with the buy calls. Short gold. Long banks for now.

[RBKissMyAs]

Sumpthin' tells me I should wait down near 5.60. I know that seems a long way from here, but.....Meantime FAZ will serve me well IF that price should appear! These are crazy times and crazy markets.

[emmertz]

Came out last nite but I missed it until early am. Getting to where I own too many stocks that you have to stay on news!

[Calero]

like we didnt know that already! (not being sarcastic w/ you but w/ moody) bring the rating down now so its harder for them to sell stocks at a higher price to raise captial... worse dilution jerks

[jgbuz]

looking for that 5.85 price now than I am back in

[RBKissMyAs]

It stopped me out @7.25. Switched to FAZ for now.

[emmertz]

Moodys has issued downgrade based on need to raise capital.

[mrlomo]

FMER is a good bank. They returned their TARP a few weeks back and their books are a lot better the FITB or HBAN. Low volume. The only concern I have is that it moves with the rest of the Financials so if there is a problem with the sector it will fall. It also looks like the $$ right now is in the volatile stocks aka FITB so it most likely will not be a quick turn. Depending on the news and overall financial sentiment I will get back in to FMER after options expire on next week if it dips below $19.

[Calero]

check fmar out... its another regional bank play in Baltimore Maryland. kinda the same trend with lower volume but its not otc. whats your take.... im thinking 1.4 - 1.6 to get in

[RBKissMyAs]

The strength of the rebound makes me think this may get close to 8, and FAZ could see 5.20ish. Gotta stay light on your toes in this market.

[RBKissMyAs]

Uphill for good? I don't ever think in those terms. What I do think is that the markets are in a bull run. So more up side is to be expected. Holding long term for me is maybe a week...LOL.
I have an order for FAZ waiting @5.56. If that gets hit, I'll take profits on the banks and unless I get stopped out will ride FAZ uno mas time. Like I said, looks like 5th could see near 8 before the next significant resistance. Subject to change of course. That's as far as I look ahead for now.

[Calero]

lmaooo some bear market anaylst on cnbc said the dow is gonna hit 1000!!! talk about over exageration to pump fear to buy low lol

[Calero]

do you see another dip like yesterday tmr or next week? or you feel its uphill from here?

[RBKissMyAs]

Thanks. I just follow the charts. This thing might see close to 8 today.

[Calero]

last 15 mintues its been all buying and growing volume. hope it keeps up

[Calero]

i didnt sell my shares at 8.24 but i averaged down by buying under 7 so im gonna fair well..... if i was out at 9 when i had a chance and bought under 7 i'd have a cheese smile too...
you did great

[RBKissMyAs]

Did I mention I'm having fun today??

[Calero]

all banks going green now except bk on my watch list. might be a catalyst to push market higher today

[RBKissMyAs]

It hit 6.62. Close enough for my target of 6.55. I jumped in on the rebound @6.79.

[Calero]

the nas and dow is mainly made up of individual investors and their confidence in the market. yesterday was the bears drilling "bear market rally" into the bulls minds so they can find their missed entry point.... who they kidding, this trend is gonna be a step latter...
either way that means things go up cause hedge fund money would pump stuff up

[emmertz]

I meant on the msg board comments!

[MorningLightMountain]

sweet....

[TheInvisibleHand ™]

funny thats right around where my short average is. Made tons of money on the way up and will make money on the way down.


Thats how we do it.......

[RBKissMyAs]

So buying drove it under 7 today....uh, OK.

[emmertz]

sounds like buying and no bailin. Any news specific that anyone has seen outside of forclosures and retail figs? I cannot find any bad wrap on fitb specifically.

[RBKissMyAs]

I've readjusted to 6.55.

[jgbuz]

looking for an entry point

[RBKissMyAs]

Welcome to the 6's.

[mrlomo]

That is a good question. How will FITB raise money to make up the $1.6B Delta? I am surprised by the number of banks selling shares to raise the money. Seems to me that this is a lot of dilution. But these are weird times. Maybe in the scope of things dilution is not an issue for the big banks.

[RBKissMyAs]

New set up....back in FAZ and upped my entry here to 6.75. Markets look super weak except for my fave, gold.