COSTS MOUNTING
The effects of JPMorgan's stumble are still being tallied.
Though the bank can easily absorb a loss of $2 billion or more, its credit rating was cut on Friday by Fitch Ratings and its reputation for avoiding problems was dented. Dimon's calls to ease pending regulations have lost credibility. After all, the regulations are supposed to prevent banks from taking big risks of this kind with their balance sheets. On Friday, the bank's shares plunged more than 9 percent, wiping about $15 billion off its market value.
I was incredibly lucky with the banking stock MS, i had been short of it and it had nearly got stopped out but just missed by a few ticks. Then this JPM thing hit my little -250 shares is doing well for some nice grogg money for the month!:drink:
CanOz
Exports of goods have remained strong,........
By Laura Marcinek, Donal Griffin and Dawn Kopecki - May 15, 2012 12:17 PM ETJPMorgan Said to Weigh Bonus Clawbacks After Loss
One of the indicators we track is Down Pressure. It’s currently flirting with its most extreme levels of the past decade.
The indicator looks at the component stocks of the S&P 500 and computes how many points gained/lost were lost, and also how much of the volume flowing into up/down issues went into down issues.
Over the past 10 days, the average of those two figures is 73%, meaning about 73% of the points gained or lost in the component stocks were lost, and about 73% of the volume flowed into issues down on the day.
There have been four other days that match or exceed this reading – 7/22/02, 10/9/08, 7/2/10 and 8/4/11. They were each within days of vicious market bounces.
Interesting Perspective! Thanks for the link to the site.
I'm assuming when it says that after each such point - and there were 4 - in the last decade, the market viciously bounced UP (and not down).
WHICH ONE IS IT?
MarketDelta @marketdelta
Most stocks in the world are now below their 50-day price averages
Walter Murphy @waltergmurphy
Bullish Percent Index (BPI) for the S&P 1500 ($SPSUPX) below zero for the first time since November.
HunterKillerSub @HunterKillerSub
$SPX Percent of Components over 200 Day MAs dropping too way fast http://twitpic.com/9m8eot this is alarming -- White House should see this
Now all we need is the black swan, in the form of Israeli fighter/bombers to fly into Iranian airspace looking for their nuclear weapons. The Israelis are cold and calculating enough to do it now so that our international attention is diverted...
we're now sitting firmly on top of the 12 sma on the spx and no real sign that there's reason to be/get long.....maybe a whip-up to mid 1330's for a hook sell......and this pic tells the story.....this is not QCOM in the midst of a tech revolution, this is likely a sad face of a sneezing bull cycle.....buuuurrrrrrtt, the bigger the call the bigger the fool:
nails the high of the day at the open, gets stagged, closes at the low......auspicious eek
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