|Day Low/High||127.35 / 129.85|
|52 Wk Low/High||76.91 / 142.75|
It is logical that stocks consolidate a little as we head into earnings season.
Some patterns reveal themselves easily, and you can spot them ahead of the computer programs. Here are examples of them, and how to act.
You want to be long the shares when the company starts buying them again. You don't have to be long until then.
The belief that there eventually will be more fiscal stimulus is holding bears at bay and letting the bulls run wild.
* Good news on the credit front * My positive bank thesis remains very much intact * From a near term standpoint, third quarter will likely indicate a topping in loan loss provisions, a continued improvement in fee based income lines (e.g., mortgag...
Now, that we have confirmation from the Nasdaq Composite, I think we can say equity markets are indeed back in what I would consider an uptrend.
There was some significant rotational action Monday and we'll see if that continues as we move into earnings reports.
The two money center banks are set to report earnings on Tuesday.
What stocks do from here will, beyond electoral risk and potential stimulus, rely upon fourth quarter guidance.
Made some buys this morning - pushing me closer to large-sized than medium-sized. Bidding for more , , and .
Coming up in my Diary on Monday: Why "The Biden Bump" is a positive -- not a negative as is commonly assumed -- for bank stocks. This is truly a non consensus view. P.S. - I am bidding for more on today's weakness.
Here's a follow-up on why too much of a good thing can be wonderful. My Trade of the Week (long JPMorgan ) is +2% today. I continued to buy this name during the week. In financials, as mentioned earlier in the day, I added to Morgan Stanley on...
Let's check out both the stocks that are going strong -- even without a stimulus -- and what I call the nascent bull markets.
* I remain bullish over the near term... * And bearish over the intermediate term * Wednesday's market was extraordinarily strong - likely characterized by a continued "offsides" position by a number of market participants * I expect a smaller and t...
This stock in my opinion is going to move violently in the short term.
* Financials remain unloved * Until they rally further! It was only about two weeks ago that I began to add to and initiate a number of individual equity buys. Among those was Goldman Sachs (at under $190/share) which is now trading at nearly $206...
Even more important than fiscal support moving forward would be the concept of Covid-19 very soon being effectively treatable for the public.
I remain upbeat on the intermediate term outlook for bank stocks and have recently suggested that banks are likely in the process of bottoming: * Fine Tuning JPMorgan's Estimates * JPMorgan Beats Estimates * Financial Stocks, George Soros and Me ...
Suddenly, both sides realize that they have played politics and the people had noticed. Not those two from Tuesday night. Thankfully.
Traditionally regional names were a better bet for dividend investors, but let's look at what JPMorgan Chase has to offer.
I see no reason to flee this name, therefore, I am not.
* This is not your father's market -- as old rules don't apply If your trading and investment decisions are based solely on price action (and charts) you should stop reading this column! Since two Wednesdays ago, I have been looking for a series...
* 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.