banks performing well today

[J_d_B]

any thoughts why?

[SimonPB]

selling of resources and then the money needs to go somewhere, so going into banks at low valuations. We've been seeing a lot of this rotation in recent months, and generally short lived.

[asylum]

I would not call a 1% move performing well after the battering the banks have recieved.omo

[SimonPB]

out preforming the resi by about 2.1% .

[J_d_B]

yeah perhaps 'performing well' could be better worded as 'not lying in the gutter begging for s*****s' lol But it's positive at least.

[Brazen]

Another thing that's puzzling - with all this rampant inflation, oil price, gloomy future scenarios why isn't the gold price higher. Or did it do it over the last 6 months already?

[SimonPB]

well brazen, because if you still have all your teeth, what do you need gold for ?

[Brazen]

You gotta start laying off those endless re-runs of "Pirates of the Carribean".. . . I know Mrs Simon said, in the dark, with your hair teased, you look a little like Cap'n Jack, but still. . .

[#9]

Might be of interest...http://www.kitco.com/ind/Nadler/apr292008A.html

[scandal]

Brazen, good question. Me thinks we might see Gold turn up on the oil price and rate cut from fed as dollar weakens... at least that my thinking. Could be wrong but i went long on gold futures today. OMO

[Brazen]

Definately worth a shot scandal - just wonder if the Fed might pause this time. They must be looking at finding a balance between bailing out banks and fueling inflation. Fascinating times. And thanks jimmo - will check out that link.

[riverside]

Banking stocks have been offering good value- esp at an average PE of 7. I am therefore not surprised that bank stocks seem to be on the rise.

[barry_1]

Surely caution is still required till after the next reserve bank meeting,as a rate hike will put every thing back to square one?

[barry_1]

ps. thats our reserve bank!

[asylum]

yes Barry quite possible but this time round i think it may already be priced in, mind you i thought that last time and i was horribly wrong.

[barry_1]

me too ,came unstuck in property as it was also affected!

[Electrox]

Well we also thought that the previous one was also priced in and look what happened then. The trend is your friend until then.... well