There is no reason whatsoever to buy or stay in the financial sector....they are going down.....especially at the end of this year.
Merrill Lynch (MER 45.98, -0.82) expects to write-down $6 billion to $6.5 billion, and report a loss for the quarter. In broader terms, the finanical sector is down 1.4% this session.
Then new Reset Defaults for the sub-primes will damage many....I believe they will take down few banks with them.....easily.....end of this year....
Let's all switch to strong companies.....there are much stronger sectors for the future....
