BankAtlantic Bancorp, Inc. (NYSE:BBX) has surged in the last three days to a high of $1.50 from $0.86. Other small cap banks have been on the move as well. They are surging on the back of increased optimism and short squeezes. Just today Independent Bank Corporation(MI) (NASDAQ:IBCP) jumped from an opening price of $1.06 to a high of $1.43. The excitement around the small bank moves today is because Marshall & Ilsley Corporation (NYSE:MI) was bought out. This means speculation may run rampant on other small financial institutions. To list a few that look ripe for a move, watch Hanmi Financial Corp (NASDAQ:HAFC) and Dearborn Bancorp, Inc. (NASDAQ:DEAR). These are all extremely risky, but offer a possible mega reward if they launch. I personally have picked up small positions in HAFC.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
