Meredith Whitney Is Bearish On Financials

Banking analyst Meredith Whitney said for CNBC that another leg down is coming, because banks won't see their earnings rise too much from now on.

She is not entirely bearish on financials, she likes Goldman Sachs (NYSE: GS) and thinks it has a lot of gas in the tank. Whitney kept a buy signal on Goldman Sachs (GS) and noted that this bank is taking a lot of space that Lehman Brothers left.

Goldman Sachs (GS) advanced 2.7% to $174.87 on Thursday, and this was a fifth trading session in a row that Goldman Sachs (GS) closed with the gains.