But the industry knows it’s coming, adds Mike Khouw. A lot of investors see it as an overhang but I’m not sure I see it that way.
I’d be a buyer of Goldman, adds Steve Cortes of Veracruz on the Halftime Report. I think the company has struggled with a slew of negative headlines and I expect it will emerge from this fog of negativity on the upside.
In the options pits, I’m seeing a lack of activity in the financials, adds JJ Kinahan. That’s probably a bad sign.
---
Also in the sector, shares of Citi popped Monday after widely followed analyst Dick Bove upgraded the stock to “Buy” from ‘Neutral” and slapped it with a $5 price target.
Bove says long-term factors outweigh worries about the government’s eventual sale of 7.7 billion Citi shares.
And in an interview on Fast Money, Bove says "Citi has $195 billion of cash on its balance sheet and it has more capital as a percentage of assets than at any time in the past 30 years. It's over capitalized, has massive amounts of liquidity and it's written down the bad loans."
“It will be a money making machine again and the stock is long-term cheap,” Bove says.
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Trader disclosure: On March 22nd, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (AA) Calls; Najarian Owns (BAC) Call Spread; Najarian Owns (C) Calls; Najarian Owns (CLX) Calls; Najarian Owns (MCD) Call Spread; Najarian Owns (MLM) Calls; Najarian Owns (MYL); Najarian Owns (PFE); Najarian Owns (TEVA); Najarian Owns (YHOO) Calls; Najarian Owns (OSIP) Calls; Najarian Owns (DD) Calls; Najarian Owns (BBY) Call Spread; Najarian Owns (AKAM) Call Spread; Terranova Owns (QCOM), (OIH), (POT); Terranova Owns (GS) April Puts; Terranova Is Short (UAUA); Terranova Is Short (CAL); Terranova Is Long May Crude Oil Futures; Terranova Is Short (GS); Karabell Owns (C), (JPM); Cortes Owns (IBB), Is Short S&P Futures; Kinahan Owns (C), Is Short (C) Puts; Kinahan Is Short (SPY) Through Options; Karabell Owns (GOOG); Kinahan Owns (WFC), Is Short (WFC) Puts
For Joe Terranova
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Cantor Fitzgerald & Co. Is A Market Maker In (TEVA)
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For Mark Mahaney
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