Bove Says Bank Stocks “Trading On Fumes”
The rational investor would step away from psychology at this point and take some profits. I suggest this even though I am not changing the long-term buy ratings on my favorite stocks.
– Dick Bove, Rochdale Securities, on the financials this morning
This report seems to be one of the key drivers of stocks this morning.
Disclosure: Top Gun is short the S&P Financials (XLF).