Bank Stocks 2/11/09 February 11, 2009

Today, 2/11/09, the bank stocks appear to be getting a bounce as stocks get set to open in about 2 hours. I continue to watch Bank of America ( BAC ) for signs of strength because if you believe this bank won't be nationalized, you can day trade it daily. Later today, some of the biggest Wall Street bank Ceo's will testify before Congress. Congress will be asking JP Morgan, Citigroup, and Bank of America some tough questions. With that said, I expect the banking stocks to be volatile today!

Banking Stock Update - February 11th, 2009


UBS AG ( UBS ) - $11.81 Up 5.25% - Swiss bank UBS AG loses $7.57 billion in 4th quarter, cutting 2,000 more jobs. This stock ripped higher yesterday but after the stock market fell apart, UBS gave back of its gains. UBS is bouncing right back this morning!

Citigroup ( C ) - $3.51 Up 5.24% - Citigroup is set the rebound after briefly trading over $4 yesterday.

Bank of America ( BAC ) - $5.72 Up 2.88% - Bank of America is the ultimate trading stock says Guy Adami on CNBC's Fast Money last night.


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