PNC Financial Services: Facing the Heat

To begin with, I would like to remind all that I am a private
investor - not an analyst, nor a reporter or media professional.<!----> Hence, expect
me to be short anything that I am bearish on and long on anything that I am
bullish on. Very strong investment results are my goals, with the blog being a
hobby.

With that being said, I am bearish on the regional banking sector with
large concentrations of commercial real estate, consumer finance and 2nd
lien residential real estate risk. I screened about 330 S&Ls, regional and
small/mid-cap banks and the finalist of this contest was PNC (PNC). Below is my
(textual) take on PNC. Later, I will post some other banks that I have looked
at along with additional info on the state of the industry that emboldens me to
hold short positions during this bear rally. I will also be posting updates on
the homebuilders.