|Day Low/High||144.27 / 147.51|
|52 Wk Low/High||127.35 / 172.96|
* Staying flexible, unemotional and opportunistic * Bear Markets don't travel in a straight line - this one will be no different Besides the passing of Justice Ginsburg, the market is faced with a number of new challenges this morning: * Nikola's...
Based in part because of the greater confidence I now have in the pivot from growth to value, I am raising my buy entry levels in the four banks I currently own. Buy Levels Was Now $48 $50 $26 $27.50 $95 $100 $25 $26.50
I have updated (and fine tuned) my JP Morgan estimates based on changing market conditions (rates, yield curve, expected trajectory of GDP growth, credit quality, capital markets activity, etc.), and factoring in of slightly lower loan losses this y...
Dip buyers have come out recently when JPM slides below the century mark.
* I believe so! * More evidence of a possible pivot from growth to value was seen today * I believe that pivot will continue (e.g.,banks should be the beneficiary of that pivot) First Level Thinking: "The Fed will remain loose for years to come. T...
JP Morgan warns of $200 billion of selling in equities at month end. A must read, here.
The FOMC, and Powell himself, will have to address the central bank's plan to target average consumer level inflation over time.
* My revised levels I don't want there to be any ambiguity about the size of my positions or about my buy and short levels as I strive for as much transparency as possible. "When the time comes to buy, you won't want to." -- Walter Deemer "When the ...
Plus, an early look at third-quarter earnings expectations and an admonition to heed the words of Arthur Cashin.
Monday's market action was in no way similar to that recent disparity between the 'haves' and 'have nots.'
When the banking system is not healthy at its core, neither is the stock market regardless of its current price level.
* Offering more and on the short side * Added to at $23.70 * Bidding for more and * Bidding for more puts * Bidding for more (there was a brokerage downgrade yesterday) __________ Long WFC (large), SPY puts, SDS (large), SJM (large), BAC (large), J...
Right now, the financials seem to feel a little bit like owning a boat.
Don't confuse what's happening on the S&P with the nation's economy.
* Buffett clearly remains cautious about the overall markets * Neither the purchase of a gold stock or some reductions in Berkshire's bank holdings seem meaningful * Here is why... This weekend Berkshire Hathaway announced the changes in its portfo...
Markets are possibly fine until either growth or inflation force the Fed to change guidance on interest rates.
Online brokers like Robinhood are not making trading so easy because they love your account balance, but because they depend on it for profitability.
The market's performance in the three months leading up to a presidential election has displayed an uncanny ability to forecast which party will win the White House.
But that's exactly where we are right now, in this third day of the rotation, so here's your path to safety.
Here's a play in the Financial Select Sector SPDR Fund as its approaches $25.
Isaac Newton's first lesson: An object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.
* Between Monday and Wednesday Berkshire Hathaway lifted its Bank of America stake by 34 million shares (to 982 million shares) * BAC is my second favorite bank stock "The reports of my death are greatly exaggerated." - Mark Twain Following a rumor ...
Overall, the banks failed you again. But the future for two of them is much brighter than the past.
For housing, lower rates have the biggest multiplier impact of any industry in the country.
* BAC is my second favorite bank stock BAC reported second quarter profits of $0.37/share, well above consensus of $0.29. The EPS upside was due to a lower than expected loan loss provision ($3.6 billion) and a reduced tax rate - not optimal, from...
All we have to do is take our cue from companies that boosted their forecasts but their stocks did nothing.
The bank was turning in disappointing performances before Covid-19 hit, and the impact of the virus may only make things tougher.