Stay away from the financials

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Mood: A little tired, but happy... also hungry.
Music: "Bad, Bad Leroy Brown" - Jim Croce

My new TV has a feature that will automatically turn it on in the mornings. Think of it like an alarm-clock radio, but a TV instead of a radio. Anyhow, it's a mildly pleasant way of waking up (as far as methods of waking up go), so now I watch a little TV in the mornings.

Yesterday, CNBC was on and I saw that The Northern Trust was down 12% in pre-market trading, and I've liked their bank so I said, "Maybe I should take a look at Northern Trust." Then, as if scalded by a hot stove, I realized what I was saying, slapped my hand, and began screaming: "Stay away from the financials. Stay away from the financials!"

Yes, I've been burned... repeatedly... as the financial stocks have plummeted in the last two years, and so my reaction has been to just ignore them. I don't particularly care if I think there's a fortune to be made in them... I've also thought that repeatedly over the last two years. Anyhow, to wrap this up. Here's the link dujour: 10 reasons why investors should avoid banks stocks.

Oh, and Northern Trust? Up 9.6% since I slapped my wrist.