Timmy
white swans need love too
- Joined
- 30 September 2007
- Posts
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There is a divergence between Bunds and 10year t-notes atm because news came out Iran developed a detonator that could trigger a nuclear weapon.
For the first time in months i am becoming a little bearish.
On the daily we may have made a high around 1080 and then a lower high around 1070.
If we break 1040, then i will be officially changing my avatar
Still plenty of buying on weakness though so won't be fighting the trend until i see a definitive close below that 1040.
Not making any ridiculous calls of a new low or anything, just a healthy pull back, if it eventuates.
Bill Luby http://vixandmore.blogspot.com/ notes flat option vols leading into earnings.Source:
http://bespokeinvest.typepad.com/be...rts-this-week-bespokes-earnings-calendar.html
Tuesday's big reports include JNJ before the open and CSX and INTC after the close.
JP Morgan (JPM) is the first big financial to report on Wednesday morning,
and then on Thursday we get reports from Citigroup (C) and Goldman Sachs (GS) before the open
and Google (GOOG) and IBM after the close. Bank of America (BAC), General Electric (GE), and Halliburton finish off the week of reports on Friday morning.
Note that just prior to the last two earnings reports, implied volatility rose due to the uncertainty and potential for higher volatility associated with an earnings surprise. This time around, however, the lack of movement in implied volatility – as well as the proximity of the IV level to historical volatility – suggests that investors are not expecting any surprises at all. In fact, this situation is not specific to JPMorgan, but is also mirrored at Citigroup, Bank of America, Goldman Sachs and even quasi-financial General Electric. Not surprisingly, the bank ETFs, such as KBE, and the financial sector ETF, XLF, show a similar pattern.
Bill Luby http://vixandmore.blogspot.com/ notes flat option vols leading into earnings.
I haven't seen/heard much reference to reporting season.
*wayneL notes the red numbers tonight with cautious satisfaction.
*wayneL will become very smug if this turns into a proper double top.
Ref Blog posts.
*wayneL notes the red numbers tonight with cautious satisfaction.
*wayneL will become very smug if this turns into a proper double top.
Ref Blog posts.
Potential smugness torpedoed by Intel. Guru status on hold.
Potential smugness torpedoed by Intel. Guru status on hold.
JPMorgan Chase, the first of the big banks to report third-quarter earnings, says its loan losses are still high and are expected to remain that way for the foreseeable future, a troubling sign for the economy.
Interesting notes:
Adjusted assets, a non-GAAP financial measure, equals total assets minus (1) securities purchased under resale agreements and securities borrowed less securities sold, not yet purchased; (2) assets of consolidated variable interest
entities ("VIEs"); (3) cash and securities segregated and on deposit for regulatory and other purposes; (4) goodwill and intangibles; (5) securities received as collateral; and (6) investments purchased under the Asset-Backed
Commercial Paper Money Market Mutual Fund Liquidity Facility. The amount of adjusted assets is presented to assist the reader in comparing the Investment Bank's ("IB") asset and capital levels to other investment banks in the
securities industry. Asset-to-equity leverage ratios are commonly used as one measure to assess a company’s capital adequacy. IB believes an adjusted asset amount that excludes the assets discussed above, which were considered
to have a low risk profile, provides a more meaningful measure of balance sheet leverage in the securities industry.
(a) Results for year-to-date 2008 include four months of the combined Firm’s (JPMorgan Chase & Co.’s and Bear Stearns’) results and five months of heritage JPMorgan Chase & Co results.
(d) Represents loans from the Washington Mutual Master Trust, which were consolidated onto the Firm's balance sheet at fair value during the second quarter of 2009. No allowance for loan losses was recorded for these loans.
These two read well together lol.
(c) Excludes home lending purchased credit-impaired loans that were acquired as part of the Washington Mutual transaction. These loans are accounted for on a pool basis, and the pools are considered to be performing. Also excludes loans held-for-sale and loans at fair value.
(c) Excludes the impact of purchased credit-impaired loans that were acquired as part of the Washington Mutual transaction. These loans were accounted for at fair value on the acquisition date,] which incorporated management's estimate,as of that date, of credit losses over the remaining life of the portfolio.The allowance for loan losses associated with these loans was $1.1 billion at September 30, 2009. No allowance for loan losses was recorded for these loans as of June 30, 2009, March 31, 2009, December 31, 2008, and September 30, 2008.
Set to be a big night tonight!
There is alot riding on tonight with bank of america and GE to report.
whats everyones thoughts? whats the vibe
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