Buying Banks

Started positions in two banks: BB&T Corp (BBT) and US Bankcorp (USB). Both are Cramer's favorites, both have good balance sheets. BB&T trades below book value and has good yield.

Surprise on today's CNBC: sudden change of sentiment. There are more bulls, they are everywhere. Sqwack on the Street, Power Lunch, Fast Money. And of course, Cramer. One day is not enough, but if such sentiment takes hold, it would be time to get cautious.

Full disclosure: at the time of publication author had long positions in BBT and USB. Positions can change any time.