Bonzoboy,
I agree, the banks have more downside to come.
In the US, last night, Citigroup slumped 4.3% to a nine-year low after Merrill Lynch cut its full-year earnings forecast for the company. Merrill said the bank could take another $18 billion in writedowns related to bad mortgage bets, according to published reports.
When this comes out expect a major rout to the downside.
ghia1959
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