Stocks Update: TMA/XLF

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U.S. stocks surged today, with the Dow adding more than 200 points, after the Federal Reserve’s unexpected intervention. We still ended the week down. I told my readers to check out TMA (Thompson Mortgage) up 21% today and XLF (the financials ETF) up 4% today. It was a good day if you were in the right place. Financials were clearly the place to be today.

Goldman Sachs still remains my favorite financial. It is a bargain at this price. Don’t you wish you bought it back at $158 on Thursday? I don’t believe in bottom-fishing, but it was a great opportunity. I can see Goldman hitting $200 by year end. That’s a nice gain from here.