I'm Banking on Banks
Repeating for emphasis, I view the banking sector optimistically and see the group as the beneficiary of a multiyear upside move.
Don't Go CAT-Fishing
Well, CAT hit a 52-week low today at $72.
I initially placed CAT on my Best Ideas List (short, not long) last Nov. 26 at $106, and here are some things I've written since:
- A recent update on dealer shipments.
- My criticism of the company's capital-allocation strategy.
- Finally, in CAT Is a Dog ... Again, I criticize the company's serial "overpromising and underdelivering.
Suffice to say, I remain short and would not recommend bottom fishing the stock on the long side.