|Day Low/High||47.73 / 48.57|
|52 Wk Low/High||20.76 / 51.41|
"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.
The current market action looks similar to what occurred in mid-February.
In view of the obvious economic issues that the market faces, it is interesting that sentiment is not more negative.
I do think the key to reopening this economy is one of greatly expanded testing for Covid-19, once a reliable treatment has made it past clinical testing, and into mass production.
Forget the issue of a retest of the lows for now and focus on new areas of technical support.
The seeds of this government takeover of markets were planted more than a decade ago.
* 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 t...
Don't get me wrong, something is better than nothing, however, PPP, as large as the numbers sound, won't make a difference if businesses aren't operating again within six weeks.
CEO Jamie Dimon is back and the firm is in good shape, even if times are rough, so I plan to add on weakness.
Given the current price pattern in the banks, I see no reason to rush to buy them at this point.
* Over the weekend I "stress tested" Bank of America's earning projections (and that of the other money center banks) * The Covid-19 inspired recession will result in only about a 5-6 quarter long push back of normalized EPS for BAC * Though earning...
I do believe that having no economy is temporary. I also believe that what comes out on the other side will be smaller, far less global.
* Before you read this opening missive be sure you understand your risk appetite and profile as well as your time frame * I see a possible "generational" investment opportunity developing and I am now even more aggressively buying for the intermedia...
* Ns over Ss! * The lingering impact of COVID-19 on our behavior helps to explain my large long investments in Google, Amazon and Twitter * Banks were the problem in the last recession, they will be part of the solution over the next few years I am ...
I added to , , , , , , and this morning. A reminder that yesterday I initiated new positions in , , , , and .
* The market outlook will be a function of economics and emotion -- I am more optimistic of the outcome than most * Uncertainties and, now panic, are reflected in uneven and inconsistent market swings on a daily and evenly hourly basis * But, uncert...