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elw
Is Wachovia Next?
Bear Stearns is now toast. People are now saying Wachovia is next, and if you own any of their stock you better sell it - and fast! Has anyone else heard this? Do I need to sell all of my Wachovia stock?
                     
 




enoriverbend
Rating
Bear Stearns is a highly leveraged investment bank.

Wachovia is a retail bank, and not nearly as highly leveraged.

Different type of bank, different financial scenario.

However, I wouldn't own Wachovia right now -- not because it's going straight in the toilet like Bear Stearns, but the share price will probably continue to suffer somewhat for a while, as will Citibank and Bank of America.


jonathan18harris
Rating
Seriously, if you are making stock decisions based on Yahoo! answers you're already in trouble.

Seek professional financial advice.


frankie77
Rating
Don't make stock decisions based on Yahoo Answers! I do know that Wachovia is relocating a ton of employees to the St Louis area. No clue why though.


maverick8291
As far as I know, Wachovia is not going to go. It is still one of the top banks in the country. I suggest that you wait until you get for news about it, because like I said, I haven't heard about that.


Kelly R
One of my coworkers says they are in trouble. I have no clue if he actually knows what he's talking about though.


lissa2882
Rating
I wouldn't panic if I were you, Wachovia has a pretty nice cash cow now, since they've bought out A.G. Edwards. I don't expect that you'll be seeing Wachovia going down like Bear Stearns anytime soon. Not only that but I just checked and there's no sign of trouble from the news.


CHAZ2006
Rating
I think some more investment banks are in trouble, not sure how exposed the commercial banks are


Kenny P
Rating
yes i have heard this but i wouldnt be worried about it yet so i would say dont go crazy and sell all your wachovia stock things just wait it out and see what happens if you hear some more things like on the news or paper then sell like crazy


▲ßûІІѕ vÅŸ ßèÄŗѕ▼
uh.. who said WB was next? don't believe all the rumors now.. NOT every investment bank is going to fall like BSC, if that's the case we can all kiss our own butt good bye and get ready for the greatest depression!


Matt G
Unlike most of the people on here, I trade stocks for a living.

Here's the thing, Wachovia has been in selling mode for a long time. Over a year by my count. The chart looks a lot like what Bear Stearn's did a few weeks ago.

It depends on what you want to do, understand your risk is still to the downside. I wouldn't be long Wachovia until it broke the trendline from October's highs through December's highs and through February's highs. Draw a straight line through these points and extend it down to the right, you'll see what I'm looking at. This means the trend will continue to be down until the price moves above, and closes above, this trendline.

The problem you're also running into is Wachovia is running out of price supports. The next one I see is at about $23.50 per share. If it gets lower than that it will be going into some dangerous territory.

Again, you're risk is to the downside. Everyone will tell you it's a "good long-term investment." Everyone was saying that about Bear Stearns. Look at that risk. You have to ask yourself if you can handle that. I couldn't, but I would've sold a long time ago.

I don't make my money in the market by guessing, I learn probabilities and technicals.

Read "Japanese Candlestick Charting" by Steve Nison, "Mastering the Trade" by Mark Douglas, and "How to Make Money in Stocks" by William O'Neill to learn more about how to trade these crazy markets.

Hope that helped.

Matt


I say this and that
Never heard of this but stocks are risky business so you never know .... no one can tell you what to do b/c stocks are unpredictable ..... watch and be careful


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