Stock Picks today, July 30, 2008

Long to these oversold stocks :

1. Giant Interactive Group Inc. (GA)
2. Silver Wheaton Corp. (SLW)
3. Solitario Exploration & royalty Corp. (XPL)

Short to these overbought stocks :

1. Home Bancshares, Inc. (HOMB)
2. Plum Creek Timber Co. (PLC)
3. Waste Services Inc. (WSII)
4. Arbour Realty Trust, Inc. (ABR)
5. Alexion Pharmaceuticals, Inc. (ALXN)
6. Concur Technologies, Inc. (CNQR)

Related Posts :

Please Note!
This is generally never true. Before buying or selling any stock you should do your own research and reach your own conclusion. See my Disclaimer on the bottom for more information.

You are welcome to republish this article, or any portion thereof.
Please, cite the actual/original source. I would be grateful if you could link back.

Writedowns of Largest Banks Reach $274bn

By Julia Kollewe
http://www.guardian.co.uk
Tuesday, July 29, 2008

Merrill Lynch shocked the market last night when it moved to raise fresh funds to shore up its battered balance sheet, sold $11.1bn (£5.6bn) of toxic mortgage securities and took a fresh $5.7bn mortgage-related writedown — just 10 days after it slipped into the red and unveiled writedowns of $9.4bn.

As the first anniversary of the credit crunch approaches, total writedowns announced by the world's largest banks have ballooned to $274bn. Some estimates suggest that the total losses, related to US sub-prime mortgages and leveraged loans, could hit $1 trillion.

Citigroup(C) $47bn

Merrill Lynch(MER) $46bn

UBS $37bn

HSBC(HBC) $25bn

Lehman Brothers(LEH) $17bn

Morgan Stanley(MS) $12bn

Royal Bank of Scotland(RBS) $11.8bn

Deutsche Bank(DB) $11bn

Credit Agricole(ACA) $7bn

Bank of America(BAC) $7bn

Wachovia Bank(WB) $6bn

Societe Generale(GLE) $6bn

Credit Suisse(CS) $6bn

JP Morgan(JPM) $4.9bn

Natixis(KN) $4.3bn

Goldman Sachs(GS) $3.8bn

Barclays(BCS) $3.8bn

Bear Stearns(BSC) $3.2bn

BayernLB $3bn

IKB $2.6bn

Lloyds TSB(LYB) $2.2bn

Heritage Financial Group(HBOS) $2bn

Washington Mutual(WM) $1.6bn

UniCredit(BIT:UCG) $1.6bn

WestLB AG $1.5bn

Commerzbank AG(ADR) (OTC:CRZBY) $1.1bn

Related Posts :

1. Wachovia Bank(WB) Needs to Raise $15 Billion in Capital
2. Merril Lynch(MER) Takes A New $5.7 bn Pre-tax Write-Down in the Third Quarter
3. Bank Collapse Update: $400 Billion of Writeoffs So Far, $600 Billion to Go (WM, WB, JPM, FNM, FRE)
4. Bridgewater warns Bank losses from credit crisis may run to $1,600bn

Please Note!
This is generally never true. Before buying or selling any stock you should do your own research and reach your own conclusion. See my Disclaimer on the bottom for more information.

You are welcome to republish this article, or any portion thereof.
Please, cite the actual/original source. I would be grateful if you could link back.