|Day Low/High||28.18 / 28.63|
|52 Wk Low/High||20.76 / 54.75|
Something feels "wrong" about this market. Mr. Market is remarkably bifurcated, there is insane speculation in worthless securities and the breadth seems "shaky" -- among many other issues. I ended the day much shorter than I started the day. Jay P...
* The large money center banks are as close to "forever" stocks for me * However, the recent rise in the sector - and near +10% opening print higher - have been almost vertical and some backing and filling would not be a surprise * Indeed, some cons...
Other than taking profits, I'm not interested in putting on new trades.
This morning Deutsche Bank reduced to hold from buy. When GS traded to $240+ (pre-Covid-19) I profitably sold my entire GS long holdings. As the share price cratered, all the way down to about $135 during the coronavirus scare, I aggressively bought...
Here's why I'm watching the banks -- and Wells Fargo -- in particular right now.
"Just one more thing" - Lt Columbo Consistent with my domestic economic concerns in my opening missive, Wells Fargo has just announced that it is cutting back lending to independent car dealerships. The business world is changing under the weight of...
Rising U.S.-China tensions continue to weigh, but new home sales and stalled continuing jobless claims may be positive catalysts.
This WFC options trade is such a value it is hard to resist.
Wells Fargo investors will likely be relieved (on Monday) that Berkshire Hathaway sold none of its shares according to its just reported 13-F. (There were vague rumors that Buffett was selling). Berkshire liquidated most of its Goldman Sachs positio...
NYSE will reopen the floor in a limited way, banks were in the headlines and Semis lead the rise.
Let's look at the stocks that will get crushed and that you can't touch right now.
* Breadth still nasty at 10-1 negative. * No real stability, yet. * Oil down two bits. * Gold +$9. * Bond yields down three to four basis points. * Energy, retail, financials, real estate, gaming, industrials broadly lower. * The only green on my ma...
The stock market selloff provides an opportunity to pick up preferred shares at steep discounts to their normal values.
Down to tag ends on Papa John's - its been a moon shot (but risk now exceeds reward). I am adding further to , , , and today ( +$0.88).
I am back - it appears the main line water leak is bigger than I thought (so it will be addressed at 7:30 am tomorrow morning). Today's market action seems so-so, with Qs (Nasdaq) over Ss (S&P). I just added to at $220.35. Though new highs expanded,...
"Just one more thing." - Lt. Columbo Wells Fargo declared their dividend of $0.51 for the quarter just now. No surprise here, but some were skeptical that the dividend would be continued at the $2.04 annual rate.
From the looks of the stocks of the banks, many of which reported excellent quarters, this group is in real trouble.
How has my book evolved since the Fed and Treasury rode into town? Here's how.
Community banks have already faced challenging times, and now the Covid-19 crisis is adding to the woes.
There's are several reasons why Kass has been aggressively buying recent weakness in bank stocks.
Are the markets ready for a pause in this dramatic rebound? We are several weeks behind Europe in battling this pandemic and U.S. numbers are far worse. Time will tell.
The market has turned a blind eye to the economic challenges that lie ahead as the focus is on the government's massive creation of liquidity.
There is no joy in stockville -- instead we have big companies with stocks rising. Here's why that is and what you need to understand about the rally amid the crisis.
Earnings season started with a mixed bag of reports.
* Bank stocks have broken out technically - a good thing (see Rev Shark's comments below) * The fundamental outlook for banks is excellent - an even better thing * The banking industry's excess capital position, the power of its deposit base and abs...
I did warn publicly back in another epoch that quantitative easing would lead toward increased consumer level inflation.