Avoid Goldman Sachs (GS)

In an interview with CNBC, Alan Valdes, vice president of DME Securities, shared his opinion about financials’ performance in the coming week. Valdes said that he is a little leery of the financial sector. He said that there have been several bank failures so far this year, and that there are other 700 banks with failure potential. Valdes said, “Yesterday’s foreclosure numbers were still weak and 50 percent of those bank assets are in foreclosures.”He also expressed opinion about the beleaguered bank, Goldman Sachs GS. He said that that it is a good company with good stock performance, but he would avoid buying it at the moment.