Flagstar Bancorp, Inc. (FBC)

Flagstar Bancorp has been beaten down by heavy non-preforming loan losses, and dilution.  I believe this is an extreme long term value play, and should see massive upside growth in the next 2-3years.   Today Flagstar reported Q1 earnings at a loss of -$.06 per share, compared to a loss of -$.74 in Q1 of 2010.  I believe Flagstar has a chance to breakeven, or report positive earnings next quarter.  Technically Flagstar just broke out of a nasty month and a half downtrend from March 1st. A break of the $1.60 level is essential, and if broken i believe this is a $2 in the short term.  One positive results are shown and some shares can be repurchased, this one will definitely take off in my opinion. 

via StockCharts.com
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