|Day Low/High||26.84 / 28.26|
|52 Wk Low/High||22.00 / 54.75|
Monday brought more record highs for the broader equity indices. As a trader, the feeling is so eerie. I'm not kidding.
As I mentioned in my post, I expect some profit taking in the banks stocks - even in light of slightly better than expected fourth quarter reports. Upon review of its earnings report, I have taken a small trading short in JP Morgan at $139.20 (in pr...
You are hearing talk of an 'earnings recession'. Just talk, my friends. Our marketplace has already been mired in an earnings recession for quite some time.
Stocks are set to gap up at the open this morning, but the big question is whether the news flow will be used as an excuse for some further profit taking.
It is highly unlikely that the indices are going to roll over and go straight down from here.
The electorate will decide whether the market has room to run again next year.
Here's a look back at how my recommendations worked out.
* I am calling an audible based on the Seattle Times report and management's apparent "slow play" on the fuselage damage during a stress test * The optics are poor * Though downside seems limited, Boeing may become even more of a "show me" stock, wi...
Let's check the charts of WFC and see where we should buy it and what to risk.
BB- and B-rated bonds have performed well lately, but CCC-rated bonds are a different story -- this divergence hasn't happened in nearly two decades and it gives clues about what to expect for 2020.
A reminder that I recently: * (Reluctantly) pared back my very large positions in Citigroup , Bank of America and Wells Fargo to medium in size * Eliminated Facebook * Reduced from very large to medium in size in Alphabet and Amazon
* Reluctantly and given the strong price performance of the last few months With the move this week and given the strong follow through today (producing high relative strength readings), I am reluctantly reducing my very large holdings in , , and to...
I have sold my speculative Deutsche Bank shares (for a very small profit) and I am taking the stock off of my Best Ideas List. The proximate reason for the sale was my analysis of the bank over the past weekend following the Wednesday report of a $9...
A few subscribers have asked me about Wells Fargo this morning. Here is my update from a few days ago.
The most hated money center bank stock extant, Wells Fargo , is challenging its November, 2018 highs today.
Most importantly, at least to me as an investor, is tangible book value.
Of course, performance matters, but investors are forward looking. For this name, this is especially true.
* Bank earnings, to begin to be reported this morning, will mostly be in line to modestly higher than consensus expectations. * In this quarter, bank EPS will begin to improve and grow relative to the S&P - with flat to slightly higher operating pro...
Citigroup and Lululemon are on the radar this morning.
Tomorrow morning we have several financials reporting their quarterly results before the market open: Charles Schwab Citigroup Goldman Sachs JP Morgan Chase Wells Fargo What I've noticed is expectations for both Goldman as well as Morgan Stanley , w...
When things are going well it is always difficult to see an inflection point.
Lower interest rates has already been priced into the markets, and these 3 stocks report next week.
* Scharf is a great "get" for Wells Fargo * I expect the long standing underperformance of the bank will soon be a thing of the past * While absolute EPS growth will likely be lackluster over the next 12 months, my analysis argues for the resumption...
Perhaps the greatest risk of all is that of systemic complexity, and this is as close to an unknowable risk as there is.
With low price-to-earnings multiples, these stocks could be buys right now -- depending on your take on recession.
There is also reason to see longer-term equity strength in valuations.
The nation's central bank forever perverted the concept of what we used to call the 'free market.'