Financials have had a great run ever since we called the June 4, 2012 bottom [see: So Crazy, It Just Might Work]. But, all good things must come to an end. I’d give them another few days/points at most. I had jumped on the short side Mar 27, 2012 [see: End of the Line and … continue reading →
Tag Archives: jpm
As a member correctly pointed out in his comment on XLF Update, a ramp in XLF would mean some big returns for important components such as BAC, C, JPM, etc. This is very true. Though it pains me to say it, I think banks are ready for a bounce. I sold all my remaining JPM, … continue reading →
UPDATE: EOD SPX went straight to our 1338 target and hung around pretty much all day — closing right on the H&S neckline. The analog I first posted on Mar 9 is still very much on track. It called for the low 1300s by May 16 — which looks doable if we have another day … continue reading →
I can picture it clearly: It’s 1963 and 10-year old Benny Bernanke sits staring at the black & white Zenith in the living room of his East Jefferson Street house, captivated by the voice of Vic Perrin… “There is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling … continue reading →
A simple calculation comparing major banks’ derivatives positions to their assets and capital shows how little it would take to wipe out either. The first ratio is the multiple that derivatives represent of Tier 1 capital. The second shows the miniscule percentage decline in the value of derivatives portfolio it would take to completely wipe … continue reading →
JPM has had a phenomenal run of late, but a long term fan line off the Mar 24, 2000 all-time high should put an end to all the fun. It doesn’t help that JPM also just completed a bearish Bat pattern and is back-testing an internal TL that dates back to 1996. And, that over … continue reading →