Category: Banking Stocks
The analysis published under this category are as follows.
Sunday, March 31, 2024
Tandem Chairman Paul Pester on Fintech, AI, and the Future of Banking in the UK / Companies / Banking Stocks
By: Sumeet_Manhas
Since the emergence of the first online-only challenger banks and fintech startups in the early 2010s, the U.K. banking landscape has undergone a profound transformation, culminating in the ubiquity of mobile finance. One of the early architects of this shift, Paul Pester, is now the chairman of U.K. green digital bank Tandem, and he hopes to draw on decades of experience in digital banking to support new avenues for improving consumers’ retail banking experience and supporting the next wave of fintech startups.
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Friday, May 05, 2023
Your Bank: "Use This as an Early Warning Signal" / Companies / Banking Stocks
By: EWI
First Republic Bank "customers had pulled $100 billion in deposits in the first quarter"
More dramatic news on the banking front.
On April 25, investors in the shares of First Republic Bank were hit hard (The New York Times):
First Republic Bank Enters New Free Fall as Concerns Mount
The bank's shares fell by about 50 percent on Tuesday, a day after it said customers had pulled $100 billion in deposits in the first quarter.
As of this writing on April 26, shares are down another 20% intraday.
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Friday, January 28, 2022
Financial Stocks Sector ETF XLF $37.50 Continues To Present Opportunities / Companies / Banking Stocks
By: Chris_Vermeulen
Recent volatility in the US markets ahead of the Fed comments/actions have prompted a relatively big pullback in almost every sector. Many traders are concerned the Fed may take immediate action to raise rates. Yet, a small portion of traders believes the Fed may be trapped in a position to act more conservatively in addressing inflation going forward. I think the Fed will continue to talk firmly about potentially raising rates. The Fed is more interested in decreasing the assets on their balance sheet before they risk doing anything to disrupt support for the global markets.
Suppose my analysis of the Fed predicament is correct. In that case, the recent collapse of the US markets represents a fear-based emotional selloff of many sectors that may still represent a strong opportunity for a recovery rally in 2022. One of those sectors is the Financial sector – particularly XLF.
I wrote about this on January 7, 2022, in this article: FINANCIAL SECTOR STARTS TO RALLY TOWARDS THE $43.60 UPSIDE TARGET
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Tuesday, December 21, 2021
How Is the Financial Services Industry Changing? / Companies / Banking Stocks
By: Submissions
The financial services industry operates in a rapidly changing world, but one it can help shape. Banking, insurance, capital markets, commercial real estate, investment management – 2022 represents a pivotal opportunity for all these businesses to create their own future.
There needs to be a lot of focus on digital transformation and ESG initiatives across the industry, as well as investments in talent and in finding new ways to work together and boost efficiency. The time has come to rethink traditional bottom-line metrics and develop strategies that address both corporate and societal demands by placing purpose and trust at the forefront.
Thursday, April 29, 2021
Financial Stocks Sector Appears Ready To Run Higher / Stock-Markets / Banking Stocks
By: Chris_Vermeulen
As we transition into the early Summer months, we are watching how different market sectors are reacting to the continued shifting of capital over the past 60+ days. One this is very clear, certain market sectors are strengthening while others have run into resistance and are consolidating. We believe the next few weeks and months will continue this type of trend where capital continues to shift away from risks and into sectors that show tremendous strength and opportunity.
We wrote about how Precious Metals are likely starting a new bullish price trend on April 18, 2021. You can read that research article here: https://www.thetechnicaltraders.com/metals-miners-may-have-started-a-new-longer-term-bullish-trend-part-ii/.
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Wednesday, November 25, 2020
Financial Stocks Sector ETF Shows Unique Island Setup – What Next? / Stock-Markets / Banking Stocks
By: Chris_Vermeulen
One would think the Financial Sector would be doing quite well related to the booming housing market and a decline in overall consumer debt and delinquency levels. Historically, the XLF chart shows that $32 is very close to the 2007 peak levels before the collapse that started in late 2007. Currently, the February 2020 highs represent a similar price peak level (near $32), and the current upside price trend has stalled near $27.50, which is a very strong resistance level.
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Wednesday, October 28, 2020
Global Banking: Some Sectors Look as "Precarious as Ever" / Companies / Banking Stocks
By: EWI
"Financial flameouts" are occurring despite relief from the European Central Bank
Most people remember that the entire global financial system teeter-tottered on collapse during the 2007-2009 financial crisis due to the debacle related to subprime mortgages.
As you'll recall, even a financial institution as large as Citigroup was brought to its knees.
Of course, that was more than a decade ago and the fear of a "financial Armageddon" would seem to be a distant memory.
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Wednesday, July 29, 2020
I Hate Banks - Including Goldman Sachs / Companies / Banking Stocks
By: Avi_Gilburt
For many years, I have noted to the members of Elliottwavetrader that I have not been a fan of banks. In fact, they are on my list of stocks that I intend on shorting once we move towards the 2023 time frame.
But, while many are focused upon the upside potential in various banks in the coming 2-3 years, I have been quite concerned about the goals of many of these banks, based upon some of the moves they have made over the past few years.
As an example, a few years ago, Goldman Sachs (NYSE:GS) opened its door to public accounts. This was a major shift in Goldman’s business practices, which had many scratching their head. But, I was not scratching my head, as it made perfect sense to me. In fact, I even wrote about Goldman’s “unexpected” move, and why they likely moved down this path.
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Monday, June 29, 2020
Europe's Banking Sector: When (and Why) the Rout Really Began / Companies / Banking Stocks
By: EWI
The financial sector has been one of the global stock market's bedrocks for decades. That's why its performance is so critical to the overall stock market health.
Well, here's a chart of the European Stoxx 600 Banks Index over the past four years.
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Thursday, June 18, 2020
XLF Financial Sector Stocks ETF May Break Below Price Gap / Companies / Banking Stocks
By: Chris_Vermeulen
Our research team warned of a peak in the Financial Sector ETF on June 10, 2020, with this article.
It was important to understand the technical setup that existed at that time and what the Fibonacci Price Modeling system was showing then. There was very clear support near $23 that was highlighted by the Fibonacci Price Modeling System and we were very clear in our future price predictions within that article…
“The $27 price peak sets up directly between our two Fibonacci Daily upside price target (Peak) levels. We believe this setup is a very strong indication that a move to below $23 may be setting up over the next 30+ days. The Q2 data may very well push investors to re-evaluate the potential for the Financial sector if delinquencies and at-risk borrowers continue to default in greater numbers. “
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Monday, June 15, 2020
XLF Financial Sector Stocks Under Pressure and What It Means / Companies / Banking Stocks
By: Chris_Vermeulen
The Financial sector is unique in that it is an essential component of global economics as well as local economic functions. Consumers depend on banking services, credit, and all sorts of other financial services in their day-to-day lives. The Financial sector is one of the components of the US stock market that can suddenly find itself under pricing pressure as an economic crisis event unfolds. This happens because banks earn a large portion of their income from servicing debt and originating loans.
The recent rally in the Financial sector, over 47% from the March 2020 lows, has reached our proprietary Fibonacci price modeling system’s upside price targets and has also filled a major gap that was created in early March 2020. Because of these factors, and the current downside price rotation within the Financial Sector, we believe this component of the US stock market could continue to see extended pricing pressure going forward as we learn just how damaging the past 70+ days of the economic shutdown have been for the economy.
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Thursday, May 28, 2020
Why You’ll Never Get Another Stimulus Check / Companies / Banking Stocks
By: Stephen_McBride
April 10, 2020 will go down in the history books. As you likely know, the US government recently handed out “coronavirus checks.”
Over 150 million Americans received the $1,200 cash injection. This isn’t the first time Uncle Sam issued free money. But it is the first time Americans didn’t need a bank account to get the cash.
On April 10, PayPal became the first “internet bank” authorized by the US government to issue stimulus checks. Folks didn’t have to wait for a check to arrive in their mailbox… or talk to a bank teller to get the money. Instead, Uncle Sam simply funneled billions of dollars to Americans through PayPal’s “app.”
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Friday, April 17, 2020
Coronavirus And The Coming Financial Revolution / Companies / Banking Stocks
By: OilPrice_Com
The coronavirus pandemic is one of the biggest and unprecedented seismic shifts in the global economy that we’ve ever seen in modern history, and it’s just getting started.
Already, economies around the world are shutting down. The federal reserve has pumped trillions into the United States economy in just a matter of days. Global supply chains have collapsed as entire Chinese industries went dark. And this is just the first stage. We’re heading into a year’s long recession that will have far-reaching consequences, some of which we can predict with near certainty, and some of which will be entirely unpredictable.
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Tuesday, December 24, 2019
Fintech and its Impact on Investments / Companies / Banking Stocks
By: Submissions
...
Wednesday, May 29, 2019
This 1.1$-Trillion Industry Will End Up Like Retail… Which Is a Huge Investment Opportunity / Companies / Banking Stocks
By: Stephen_McBride
Banks have grown very, very rich in the last 30 years—thanks to their privileged monopoly position.
JPMorgan Chase (JPM), America’s largest bank, has grown profits by 2,000%+ in the last 30 years.
Bank of America (BAC), the second-largest American bank, has seen its profits surge 4,700%.
JP Morgan Chase and Bank of America are the 10th- and 13th-biggest public companies not just in the US, but on earth.
And as we all know, bankers enjoy some of the biggest salaries around. In 2017, the top five US bank CEOs earned a combined $100 million.
But quietly, banks’ grip on money is slipping away...
Friday, January 11, 2019
XLF Bearish Into Banking Stocks Earnings Releases / Companies / Banking Stocks
By: ElliottWaveForecast
The major component stocks of XLF begin to report earnings for Q4 2018 the week of January 14th. This includes banking stocks such as C (reporting on 1/14/2019) and JPM (reporting on 1/15/2019). January 16th will see more banking stocks such as WFC, BAC, GS, and USB report. This brief explores the near-term price structure for XLF and therefore determines a directional bias for the sector leading into the reporting period. At EWF we map out cycles and sequences for 78 different trading instruments. The structure of these cycles and sequences is communicated to our subscribers via the language and construct of the Elliott wave theory.
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Sunday, November 11, 2018
The Los Angeles Measure for a City-owned Bank -- A Valiant Effort! / Politics / Banking Stocks
By: Ellen_Brown
I've gotten inquiries on the outcome of the Los Angeles ballot measure to approve a city-owned bank , so thought I would send a quick update. Unfortunately it did not pass, but it did get 42 percent of the vote. It was a remarkable outcome considering that the dynamic young Public Bank LA advocacy group effectively only had a month to educate 4 million voters on what a public bank is and why passing the measure was a good idea. If they had had another month, the bill could well have passed.
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Sunday, November 04, 2018
Banking Stocks Index Signals Bank Failures / Companies / Banking Stocks
By: Jim_Willie_CB
A very significant, very loud, very nasty warning signal has been given. It is extremely important for those who choose to live in the world of reality, and not the fantasy world from the US financial markets. The Reich theme of sluggish economic recovery is a total lie, since the recession which began in 2006 has repeated each and every year since then. The deception is derived from the wrong (under-stated) price inflation used in supposedly real adjustments to the Gross Domestic Product. The significant negative signal is of the sharp decline in the BKX bank sector stock index. But first, consider that in 2007 and early 2008 the significant negative signals were
- the sharp decline in the Fannie Mae stock price
- the sharp rise in the Lehman Brothers credit default swap contract rate.
Thursday, August 23, 2018
How China’s Mobile Ecosystems Are Making Banks Obsolete / Companies / Banking Stocks
By: Ellen_Brown
The U.S. credit card system siphons off excessive amounts of money from merchants. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest goes to banks and processors. But who can compete with Visa and MasterCard?
It seems China’s new mobile payment ecosystems can. According to a May 2018 article in Bloomberg titled “Why China’s Payment Apps Give U.S. Bankers Nightmares”:
Read full article... Read full article...The future of consumer payments may not be designed in New York or London but in China. There, money flows mainly through a pair of digital ecosystems that blend social media, commerce and banking—all run by two of the world’s most valuable companies. That contrasts with the U.S., where numerous firms feast on fees from handling and processing payments. Western bankers and credit-card executives who travel to China keep returning with the same anxiety: Payments can happen cheaply and easily without them.
Wednesday, July 11, 2018
A Public Bank for Los Angeles? City Council Puts It to the Voters / Politics / Banking Stocks
By: Ellen_Brown
Voters in Los Angeles will be the first in the country to weigh in on a public banking mandate, after the City Council agreed on June 29th to put a measure on the November ballot that would allow the city to form its own bank. The charter for the nation’s second-largest city currently prohibits the creation of industrial or commercial enterprises by the city without voter approval. The measure, introduced by City Council President Herb Wesson, would allow the city to create a public bank, although state and federal law hurdles would still need to be cleared.
Monday, June 18, 2018
The Trillion Dollar Market You’ve Never Heard Of / Companies / Banking Stocks
By: OilPrice_Com
....
Thursday, April 26, 2018
Market Minute: Bond Yields and Bank Stocks / Stock-Markets / Banking Stocks
By: Donald_W_Dony
Interest rates are starting to rise. What industry group likes that? The banks.
Interest rates are set by the FOMC and reflect a number of factors.
They are a tool to control inflation and maintain healthy economic growth.
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Monday, December 18, 2017
Explaining My Amazement About Those Turning Bullish On The Banking Sector Now / Companies / Banking Stocks
By: Avi_Gilburt
Recent price action
With the Nasdaq continuing higher this past week, it has now reached our minimum target we were looking for before a pullback may be seen. But, I think the XLF may be providing us with certain clues about how 2018 may turn out. And, it may not be as rosy as many believe. Well, at least the first half of the year.
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Thursday, November 02, 2017
Regulation Is Killing Community Banks - Public Banks Can Revive Them / Politics / Banking Stocks
By: Ellen_Brown
At his confirmation hearing in January 2017, Treasury Secretary Stephen Mnuchin said, "regulation is killing community banks." If the process is not reversed, he warned, we could "end up in a world where we have four big banks in this country." That would be bad for both jobs and the economy. "I think that we all appreciate the engine of growth is with small and medium-sized businesses," said Mnuchin. "We're losing the ability for small and medium-sized banks to make good loans to small and medium-sized businesses in the community, where they understand those credit risks better than anybody else."
Wednesday, May 03, 2017
Banking Sector Stocks have Topped Out Right Here... Sell in May and Go Away.... / Companies / Banking Stocks
By: Submissions
Zach writes: Looking at the SPDR Select Financial ETF (XLF), a proxy of the 65 biggest financial institutions, we can see that this sector will be headed lower, by approx 5% or even more.
How do I know that? - The charts are talking to us...
1. We've topped out at the 50 MA on the Daily chart, which is also a pivot high of resistance.
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Friday, April 14, 2017
KBW Bank Index Extended Correction / Companies / Banking Stocks
By: ElliottWave-Forecast
KBW Bank Index is an economic index consisting of the stocks of 24 banking companies delivering a direct exposure to the banking sector and offering a targeted view to a unique corner of the U.S. financials sector. The top holdings Banks of the index are among the biggest financial institutes in the world and most of them will report earning during this week ( Citigroup, JPMorgan Chase, Wells Fargo, Bank of America). These companies have a big influence on the financial sector that can be measured by the ETF (XLF), which was up 30% from last year until last month, we mentioned in our previous financial article that XLF was reaching an inflection area which provided the expected pullback.
Tuesday, February 07, 2017
Major Banks Are Now Bullish for the First Time in Close to a Decade / Companies / Banking Stocks
By: The_Gold_Report
Chinese and European economic activities are finally showing signs of strength, and in 2017, any severe corrections should be viewed as opportunities to position more strategically for long-term gains, says Lior Gantz, editor of Wealth Research Group.
Wednesday, November 23, 2016
A Review of Nedbank Private Wealth / Companies / Banking Stocks
By: ....
Nedbank Private Wealth is a leading international private bank offering account services and offshore investment opportunities to globally mobile professionals.
This is a review and summary of their banking and investment offering.
It is written to enable anyone looking for an organisation for international wealth management to make an informed choice about their solution provider.
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Tuesday, October 04, 2016
Are U.S. Banks Safer Today Than They Were In 2008? / Commodities / Banking Stocks
By: Chris_Vermeulen
Although the seeds of the 2008 ‘financial crisis’ were sown at a much earlier period of time, the banking institutions continued to reap the benefits of ‘easy money’ until the financial crisis of 2008 negatively impacted the economy. The damage would have been much larger had U.S. taxpayer’s money not been used to bail out a large number of struggling banks and companies.
Monday, July 25, 2016
Is the Banking Stocks Index on Solid Ground? / Companies / Banking Stocks
By: Marty_Chenard
Last Friday, the Banking Index closed at 67.50 with the C-RSI at a Caution level of +2.07.
The Accelerator had a very small up tick. The Timing Indicator was in positive territory with an up tick that still showed technical upside trending.
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Tuesday, July 19, 2016
Banking Stocks Index - Does Danger Lurk? / Companies / Banking Stocks
By: Marty_Chenard
Does Danger lurk on the Banking Index?
Last week, the Banking Index closed at 67.22 with the C-RSI at a Danger level of +1.59.
The Accelerator had a very small down tick. The Timing Indicator was in negative territory with an up tick that still showed technical upside trending.
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Friday, July 01, 2016
Barclays Doesn’t Need More Capital Even With Brexit, Staley Says - Video / Companies / Banking Stocks
By: Bloomberg
Barclays CEO Jes Staley says in a Bloomberg Television interview with Erik Schatzker that the bank didn’t see stress in funding during market volatility.
He says:
- No agreed-upon sales of non-core assets had clauses that would cancel them because of Brexit.
- Stock decline prompted by earnings concerns, not capital or liquidity questions.
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Tuesday, May 03, 2016
Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California? / Companies / Banking Stocks
By: Ellen_Brown
Despite North Dakota’s collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fifty times North Dakota’s population, could do following that state’s lead.
In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nation’s only state-owned depository bank, was more profitable even than J.P. Morgan Chase and Goldman Sachs. The author attributed this remarkable performance to the state’s oil boom; but the boom has now become an oil bust, yet the BND’s profits continue to climb. Its 2015 Annual Report, published on April 20th, boasted its most profitable year ever.
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Saturday, April 23, 2016
Mish Shedlock: “EXCUSE ME MR. PRESIDENT, IS THAT A JOKE?” / Companies / Banking Stocks
By: Gordon_T_Long
FRA Co-founder Gordon T. Long is joined by Mish Shedlock in discussing the rigging of gold and silver by Deutsche Bank and the reliability of so called “casino banks” and the state of global banking institutions.
Read full article... Read full article...Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. He is also a contributing “professor” on Minyanville, a community site focused on economic and financial education.
Friday, April 22, 2016
Mike Mayo: Citigroup, BofA, Comerica Should Shrink Faster / Companies / Banking Stocks
By: Bloomberg
Mike Mayo, managing director at CLSA Americas, spoke with Tom Keene and Michael McKee on Bloomberg Radio this morning. Mayo said Citigroup, Bank of America and Comerica should move faster to restructure, including selling more assets, to catch up with competitors that are generating better returns: “All three of those banks have failed to create value for every year for the last eight years. And so our question for the board of directors is if you’re not getting it done, what is your plan B?”
He said: “You have some banks like JPMorgan and Wells Fargo with very good returns. Citigroup has poor returns. That’s why our team is going to the annual meeting on Tuesday to say some of your peers are getting it done.”
Saturday, April 16, 2016
Investigating Deutsche Bank's Euro21 Trillion Derivative Casino / Companies / Banking Stocks
By: Mike_Shedlock
Deutsche Bank Admits Rigging, Will Expose Other Riggers
Deutsche Bank has admitted it rigged both the Gold market and the Silver market. ZeroHedge has the details in his report Deutsche Bank Agrees To Expose Other Manipulators .
Many asked me to comment. I am shocked?
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Wednesday, February 03, 2016
What's Up with Goldman Sachs? / Companies / Banking Stocks
By: Mario_Innecco
Transcript Excerpt: Tuesday February 2nd 2016 short video on Goldman Sachs the investment bank that
was saved by the Federal Reserve in 2008 September 2008 overnight federal reserve
on a Sunday you know gave Goldman Sachs bank holding company status
overnight just like that in order to save Goldman Sachs that they could
borrow money from the Fed
their investment investment bank so you could argue that their actual investment
bank with government guarantee now you know from 2008
Tuesday, December 29, 2015
A Crisis Worse than ISIS? Bank Bail-Ins Begin / Politics / Banking Stocks
By: Ellen_Brown
At the end of November, an Italian pensioner hanged himself after his entire €100,000 savings were confiscated in a bank “rescue” scheme. He left a suicide note blaming the bank, where he had been a customer for 50 years and had invested in bank-issued bonds. But he might better have blamed the EU and the G20’s Financial Stability Board, which have imposed an “Orderly Resolution” regime that keeps insolvent banks afloat by confiscating the savings of investors and depositors. Some 130,000 shareholders and junior bond holders suffered losses in the “rescue.”
Saturday, December 19, 2015
Banking Stocks - Why Not to "Bank" on It / Companies / Banking Stocks
By: EWI
Two charts, one message
Editor's note: You'll find a text version of this story below the video.
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Saturday, October 24, 2015
Killing Off Community Banks - Intended Consequence of Dodd-Frank? / Politics / Banking Stocks
By: Ellen_Brown
At over 2,300 pages, the Dodd Frank Act is the longest and most complicated bill ever passed by the US legislature. It was supposed to end "too big to fail" and "bailouts," and to "promote financial stability." But Dodd-Frank's "orderly liquidation authority" has replaced bailouts with bail-ins, meaning that in the event of insolvency, big banks are to recapitalize themselves with the savings of their creditors and depositors. The banks deemed too big are more than 30% bigger than before the Act was passed in 2010, and 80% bigger than before the banking crisis of 2008. The six largest US financial institutions now have assets of some $10 trillion, amounting to almost 60% of GDP; and they control nearly 50% of all bank deposits.
Monday, October 19, 2015
Banking Stocks Sector Now Looking in the Money / Companies / Banking Stocks
By: Sol_Palha
A sign on the door of Opportunity reads Push. -
Anonymous
The financial sector has pulled back nicely during the market sell off in August, setting up a nice opportunity for the contrarian player. The masses are fixating on whether or not the Fed will raise interest rates by a minuscule 0.25%. While they fixate on this issue opportunity could be at hand;now might be the time to put some money into banks. One simple way to achieve this would be via KBW Nasdaq Bank Index (BKN).
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Wednesday, October 14, 2015
How Can Bank of America Drive Better Efficiency? / Companies / Banking Stocks
By: Bloomberg
Brian Moynihan, CEO of Bank of America, spoke with Bloomberg TV’s Erik Schatzker about the bank's earnings and performance.
Moynihan said that the efficiency ratio should be 500 BPS lower and the company has a plan to get it there. When asked about how he will do it, Moynihan said: "The headcount will come down because there were 60 percent people costs. There's not enough other costs to save a lot of money, but question is how you do that."
Wednesday, October 14, 2015
Forget the Yield Curve- Banks Stocks Are a Bargain / Companies / Banking Stocks
By: Sol_Palha
A wise man will make more opportunities than he finds. - Francis Bacon
The press is giving too much credence to the effect an interest rate hike would have on the markets and on the financial sector. First of all, the fact that the Fed has been debating whether or not to raise rates by a paltry meaningless 0.25 basis points speaks volumes. The Fed clearly understands that this recovery is nothing but smoke and mirrors; the main driving force behind being hot money.
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Sunday, September 27, 2015
Stock Trade-of-the-Week: JP Morgan Chase & Co. (JPM/PM) / Companies / Banking Stocks
By: Donald_W_Dony
Company Profile: JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management.
Wednesday, September 16, 2015
Big Banks Cutting Tens Of Thousands Of Jobs; Huge Implications / Companies / Banking Stocks
By: John_Rubino
Money center banks — which over the past few decades have grown into the biggest financial entities the world has ever seen — appear to have hit a wall, and are now shedding tens of thousands of workers.
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Tuesday, September 08, 2015
Dangerous is The Best Way to Explain The Banking Stocks Index Now ... / Companies / Banking Stocks
By: Hubert_Moolman
The ($BKX) Banking Index did hold at its rising channel's support line last week. However there is concern for later because the support line was breached for two days before the Banking Index found its way back into the range.
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Friday, July 31, 2015
Banking Stocks You Need to Consider Now / Companies / Banking Stocks
By: Submissions
Larissa James writes:As the Chinese stock market continues to crash, things on the home front are doing just fine. While we’ve seen industry averages drop slightly over the past few months, we still remain on a positive upward trajectory over the past five years. If you haven’t yet regained confidence after the 2008-2009 crisis, now is the time to get back in the game. And if you’re looking for a place to start, the following banking stocks should be top on your list:
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Wednesday, June 24, 2015
It’s the World’s Most Powerful Investment Bank… and Now It’s Going to Work for You / Companies / Banking Stocks
By: ...
MoneyMorning.com Shah Gilani writes: It’s true. Starting sometime next year, Goldman Sachs Group Inc. (NYSE: GS) – the poster child Wall Street investment bank of the 1% of the 1% of the superrich – is going to lend money to the remaining 99% of consumer borrowers.
Don’t bother getting all suited up with hat in hand for a visit to a local branch of Goldman Sachs Bank USA (with its $73 billion in deposits) – there won’t be one.
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Thursday, May 21, 2015
Banking Stocks Break Out with Higher Bond Yields / Companies / Banking Stocks
By: Gary_Tanashian
It is too early to call it a confirmed breakout, but the Bank index has popped above cyclical bull market highs. Weekly MACD and RSI both look good.
Sunday, March 22, 2015
Bank Stress Tests Prove the Worst History Repeats Itself / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: Last Wednesday, only two out of 31 big banks failed the Federal Reserve's "qualitative" round of bank stress tests.
One was Deutsche Bank AG (USA) (NYSE: DB), and the other was Santander Holdings USA Inc. (NYSE: SOV-C).
And then on Thursday, Santander's biggest U.S. unit, Santander Consumer USA, was able to sell a bundle of subprime auto loans, worth $712 million, in a matter of hours.
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Tuesday, March 17, 2015
Banks Stress Tests When the Worst Loans Are the Best Deals / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: Last Wednesday, only 2 out of 31 big banks failed the Federal Reserve‘s “qualitative” round of stress tests.
One was Deutsche Bank USA, and the other was Santander Holdings USA Inc.
And then on Thursday, Santander’s biggest U.S. unit, Santander Consumer USA, was able to sell a bundle of subprime auto loans, worth $712 million, in a matter of hours.
Read full article... Read full article...
Tuesday, March 10, 2015
Bank Stress Test Kabuki Theater Begins Again / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: It’s that time of year again. Not for spring cleaning – but for bank stress tests.
Too bad stress tests are nothing more than a sweeping-dirt-under-the-rug exercise, despite the rug-beater supposedly hanging them on the line.
The whole show, which first started in April 2009, is just a public performance.
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Wednesday, February 25, 2015
How to Borrow Cheaply from a Government-Owned Bank / Politics / Banking Stocks
By: Money_Morning
Shah Gilani writes: The free market for banking services in the United States isn't a free market at all.
The truth is the biggest commercial banks in America operate with virtual impunity as a government-subsidized, government-protected oligopoly.
So, why don't we drop the pretense that government-owned banks don't belong in a free market economy and create a network of honest state-owned banks to compete with so-called private banks?
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Thursday, January 22, 2015
166 Trillion Reasons Why Bank Stocks Are So Cheap / Companies / Banking Stocks
By: Money_Morning
Michael E. Lewitt writes: My continuing search for sectors of the stock market that are trading cheaply and offer the potential for gain has led me to a controversial slice of the market: bank stocks.
Looking at the "Big Four" in the U.S. banking sector, it's easy to conclude that the sector is undervalued…
But that conclusion may be a bit misleading.
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Monday, January 12, 2015
JPMorgan Is the Latest Target on Goldman Sachs’ “Hit List” / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: This may be old news, but as far as history goes, a lot of us forget it.
And you know what happens then – we’re doomed to repeat it.
What I like about people forgetting history are the trading and investing opportunities that pop up when I can see the past coming back to haunt us before others do.
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Sunday, November 23, 2014
This Publicly-Owned Bank Is Outperforming Wall Street / Companies / Banking Stocks
By: Ellen_Brown
The Wall Street Journal reports on the impressive record of the Bank of North Dakota
While 49 state treasuries were submerged in red ink after the 2008 financial crash, one state’s bank outperformed all others and actually launched an economy-shifting new industry. So reports the Wall Street Journal this week, discussing the Bank of North Dakota (BND) and its striking success in the midst of a national financial collapse led by the major banks. Chester Dawson begins his November 16th article:
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Tuesday, November 18, 2014
Why Sleazy Auto Lenders Are the Nation’s Most Reckless Drivers / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: There’s a lot of action over in the subprime auto sector, and it’s not pretty
The saying is “Where there’s smoke, there’s fire.” So, it’s probably just a matter of time before the mainstream media and the general public catch on and see the flames being vigorously fanned by greedy lenders.
Read full article... Read full article...
Wednesday, October 29, 2014
Bank of America's Mortgage Headaches / Companies / Banking Stocks
By: Bloomberg
Bank of America Chairman Brian Moynihan spoke with Bloomberg Television anchor Erik Schatzker today, where he said that legal costs stemming from defective mortgages are largely behind it. Moynihan said, "If you look at the different components of liability and the amount of settlements, whether it's the RMBS cases, yes, it's behind us...Embedded in that is often the question, OK, that's over, now you can go concentrate on running the company. The answer is, we were running the company" all along.
Monday, October 27, 2014
Europe Redefines Bank Stress Tests / Stock-Markets / Banking Stocks
By: Raul_I_Meijer
The EU and ECB claim they conducts their stress tests and Asset Quality Reviews to restore confidence in the banking sector. That is easier said than done. The problem with the confidence boosting game is that if the tests are perceived as not strong enough, nobody knows which banks to trust anymore. And, on the other hand, if the tests are sufficiently stringent, there’s a genuine risk not many banks are found healthy.
There’s the additional issue of quite a large group of banks having been declared ‘systemic’ by their mother nations, which is of course equal to Too Big To Fail, and, in layman’s terms, ‘untouchable’.
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Thursday, September 18, 2014
Is Citigroup the Dumbest Bank Ever? / Companies / Banking Stocks
By: John_Rubino
Back in 2006, when the housing bubble was entering its truly (and obviously) manic phase, mega-bank Citigroup was being pressured by Wall Street to grow faster. And rather than pushing back against what were clearly ill-timed demands from desperately-short-sighted analysts, Citigroup CEO Chuck Prince uttered some words — and adopted a strategy — that live on in the annals of banker cluelessness:
Friday, August 01, 2014
Big Banks Shift to Lower Gear Banking Operations / Companies / Banking Stocks
By: John_Mauldin
For today’s Outside the Box, good friend Gary Shilling has sent along a very interesting analysis of the big banks. Gary knows a lot about what went down with the big banks during and after the Great Recession, and he tells the story well.
After the bailout of banks during the financial crisis, many wanted too-big-to-fail institutions to be broken up. Big banks resisted and pointed to their rebuilt capital, but regulators are responding with restraints that strip them of proprietary trading and other lucrative activities and push them towards spread lending and other traditional commercial banking businesses. The fiasco at Citigroup, JP Morgan's London Whale, and BNP Paribas's sanctions violations have spurred regulators as well.
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Monday, March 31, 2014
Are Bank Stocks Sending an SOS Signal? / Stock-Markets / Banking Stocks
By: EWI
If you turn on CNBC first thing in the morning, you hear a lot about market indicators. Consumer behavior, GDP numbers, the Fed, interviews with CEOs -- it's all in the mix.
Instead, Steve Hochberg of Elliott Wave International looks at important indicators that mainstream finance often overlooks.
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Wednesday, January 22, 2014
Why it is Important for Bankers to Attend Davos / Stock-Markets / Banking Stocks
By: Bloomberg
Bank of America President/CEO, Brian Moynihan joined Bloomberg Television's Erik Schatzker and Stephanie Ruhle today live from Davos and said trading operations were profitable almost every day last quarter as the lender helped clients adjust to the prospect of higher interest rates, "I think we made money on every trading day except for two or three. Quarter after quarter, that's been trust. It's because it's a client business." Moynihan also said:
Wednesday, January 15, 2014
We’re Riding These Bottlenecks to the Bank / Companies / Banking Stocks
By: Money_Morning
Dr. Kent Moors writes: Amy Harder asked a pretty straight forward question in National Journal yesterday.
We’ve found vast new stores of domestic energy, she points out, but how do we move it around the country?
In light of the recent crude oil train accident in North Dakota, she brings up a pretty big point. The entire infrastructure network of pipelines, rail transit, barge traffic, and high-power lines hardly seems up to the task.
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Thursday, October 24, 2013
Goldman Sachs Feels Bad about What JP Morgan is Going Through / Companies / Banking Stocks
By: Bloomberg
Goldman Sachs president and COO Gary Cohn told Bloomberg TV's Stephanie Ruhle on "Market Makers" today that he doesn't know what drove the firm's underperformance in fixed-income trading in the third quarter: "We don't know precisely why we had a tough quarter, but the results are in, and I can tell you we had a tough quarter in fixed-income...We're very committed, we're going to redouble or triple our efforts in fixed-income. We believe ourselves to be a very powerful, very dominant, top-tier fixed-income shop."
Monday, October 14, 2013
Why Investors Should Buy the World's Most Hated Investment Right Now / Companies / Banking Stocks
By: DailyWealth
Dr Steve Sjuggerud writes: If you want to make hundreds-of-percent gains in stocks (without touching options), here's what you have to do...
• You have to buy a stock that's so cheap, if it doubles it will still be cheap.
• You have to buy a stock that's so hated, nobody else wants it.
That's the starting point for 100%-plus gains.
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Wednesday, August 28, 2013
The Beating Coming for Austrailian Banking Stocks, Time to Short / Companies / Banking Stocks
By: readtheticker
The banks that escaped balance sheet damage from the 2008 financial crisis are those down under in Australia.
The Aussie banks and economy was saved by the 18% of GDP stimulus China started on the eve of the crisis. This allowed Aussie exports to flow to China without a any major hick up, this also allowed the Aussie property market to avoid any serious down swing.
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Saturday, August 03, 2013
Is The Financial Crisis Over For Financial, Banking Stocks? / Companies / Banking Stocks
By: Charles_Carnevale
The cause of the financial crisis of 2007 -2008, also known as the Great Recession of 2008, is attributed to many different theories. However, one of the most common theories is an easy money regulatory environment that led to an abundance of subprime loans, which in turn inflated real estate prices to bubble levels. Additionally, many blame the Financial sector, predominantly the money center banks, for exploiting the lax lending requirements with reckless and greedy behavior. They did this through the creation of and proliferation of high risk bundled subprime mortgages (CMO’s, etc.) and the creation of other high risk and complex financial products that were being pawned off as safe investments.
Additionally, many attribute the repeal of the Glass-Steagall Act in 1999 as a major contributor to the financial crisis, which effectively removed the separation between investment banks and depository banks in the United States. There was plenty of blame to go around, which included avarice, greed and excesses on Wall Street, and the failure of regulators to include many of the most prominent credit rating agencies.
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Thursday, May 16, 2013
Why Hedge Funds Love Greek Banks / Companies / Banking Stocks
By: Money_Morning
Tim Melvin writes: Talk about looking for best investments in the most unlikely places...
The bad economic news out of Greece has dominated the headlines for several years now. As the country tries to work its way back to prosperity, a solvent banking system is going to be critical to the process. Banks have seen their capital base shrink from bond haircuts, bad loans and depositors withdrawing money to get it outside the beleaguered nation's banking system.
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Friday, May 03, 2013
Are TARP Warrants the Way to Play Banks? / Companies / Banking Stocks
By: Money_Morning
Tim Melvin writes: Believe it or not, the big bank rescue plan known as the Troubled Asset Relief Program (TARP) actually has created some of the best investments for profiting from a banking recovery.
As you may recall, the federal government gave money to troubled banks in order to shore up balance sheets wounded by falling real estate and mortgage security prices. As part of the program, the government took an equity stake in these institutions in the form of preferred stock and equity warrants.
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Tuesday, April 16, 2013
Why It's Time to Sell Too Big to Fail Banks / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: I'm not buying any bank stocks here. I don't own any at present. And if I did, I'd either sell them or at least hedge them.
It's not that they're doing poorly. They're not. Bank stocks have been strong because they've been making record profits. It's been a good ride if you're a Too Big To Fail bank or a shareholder.
Read full article... Read full article...
Wednesday, April 03, 2013
Banks Stocks with Juicy, Market-Beating Yields / Companies / Banking Stocks
By: Money_Morning
Tim Melvin writes: In the past, you used to be able to safely invest at the bank. But now, it might be wiser to invest in the bank, as the following institutions are looking more like attractive stocks to buy now.
Thanks to the U.S. Federal Reserve, interest rates will continue to be low for an extended period of time, meaning savers would be lucky to get 1%.
Read full article... Read full article...
Thursday, March 21, 2013
All of a Sudden, the Bank Stocks Look Good / Companies / Banking Stocks
By: Profit_Confidential
The results are in for the bank stress tests by the Federal Reserve, and they show, as I had expected, an improving banking sector that is more defensive to risk and much improved as far as their balance sheets, liability, and vulnerability to dire market conditions.
The banks were tested based on a worst-case scenario to see the impact on the bank stocks and their ability to handle a major financial crisis. The key assumptions include: the unemployment rate surging to 12.1% (read “What the Government Doesn’t Want You to Know About Jobs Creation”), a pullback in the equities market by over 50%, and home prices falling by over 20%. (Source: Board of Governors of the Federal Reserve System web site, last accessed March 18, 2013.)
Friday, March 08, 2013
Bank Stress Tests Could Lead to Higher Dividends for Investors / Companies / Banking Stocks
By: Money_Morning
Jeff Uscher writes: The U.S. Federal Reserve will announce results of its annual bank stress tests Thursday - which means higher dividend payouts could be on the way from a handful of U.S. banks.
The bank stress tests are designed to assess if big U.S. financial institutions can weather a major economic storm.
Read full article... Read full article...
Friday, February 22, 2013
What To Do with Your Bank Stocks? / Companies / Banking Stocks
By: InvestmentContrarian
Sasha Cekerevac writes: One of the strongest market sectors in the stock market over the past year has been the financial market sector. Bank stocks have been on a tear, moving up massively since the lows in June. Looking at the entire market sector through the Financial Select Sector SPDR (NYSEArca/XLF) exchange-traded fund (ETF), the index is now up almost 36% from the lows in June.
Friday, February 15, 2013
Finding Money-Making Opportunities with Bank Stocks / Companies / Banking Stocks
By: InvestmentContrarian
George Leong writes: The major bank stocks all closed off 2012 near their respective 52-week highs; and they’ve started 2013 with a bang. Driven by an improving banking industry that is assuming less risky businesses while shoring up their balance sheets and producing stronger units, the KBW Bank Index is up eight percent, outperforming both the S&P 500 and the Dow Jones.
Wednesday, February 13, 2013
Where Goldman Sachs Will Make Money in 2013 / Companies / Banking Stocks
By: Bloomberg
Goldman Sachs CEO Lloyd Blankfein spoke with Bloomberg TV's Stephanie Ruhle at the company's technology conference in San Francisco today. Blankfein said he has no plans to leave Goldman: "The combination of this being who I am and what I do and having absolutely no other interests makes me think this is what I'll be doing for a while."
Blankfein said that while he "would love to be wanted" for the role of Treasury Secretary, "that seems like such a distant hypothetical."
Read full article... Read full article...
Friday, February 08, 2013
Meredith Whitney Says Bank of America is Stock to Own Without a Doubt / Companies / Banking Stocks
By: Bloomberg
Meredith Whitney appeared on "Bloomberg Surveillance" this morning and told Tom Keene and Sara Eisen and said that she's "uninspired" by Citigroup CEO Michael Corbat. Whitney said, "We don't really know Mike Corbat's agenda...He didn't give us an agenda and he didn't even give us a time stamp for when he's going to give us an agenda, so it left people a little bit uninspired."
Whitney also said, "I think that Citi does ok, but I think Bank of America is the stock to own this year without a doubt." She also said that the S&P fraud charge is "very hard to believe and I think that's going to be very hard to prove."
Read full article... Read full article...
Wednesday, January 16, 2013
Bank Stocks at Crucial Crossroads 2013 / Companies / Banking Stocks
By: InvestmentContrarian
Sasha Cekerevac writes: Last year was a great year to be an investor in bank stocks. We’ve seen a dramatic rebound in the price of most major bank stocks in America as the earnings outlook has improved. Clearly, the earnings outlook at the beginning of last year was far too pessimistic for the majority of bank stocks.
The question: what’s in store for bank stocks in 2013?
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Friday, January 11, 2013
Investing 2013 - Four Safe Banking Stocks You Can Buy Right Now / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: Between the financial crash of 2008 and the Eurozone debt crisis, big Western banks have turned into pretty dodgy investments.
I'm talking about the banks that were "too big to fail."
These days the profits of these fine institutions are largely dependent on not writing off too many bad loans or incurring huge fines and lawsuits from various past misdeeds.
Read full article... Read full article...
Friday, December 14, 2012
Look at Your Bank Fees to Know How the Big Banks Are Upto / Companies / Banking Stocks
By: InvestmentContrarian
George Leong writes: The major bank stocks are all near their respective 52-week highs and an upside break appears to be in the works, as the banking industry continues to assume less risky businesses while shoring up their balance sheets.
Wednesday, November 07, 2012
The Real Crooks Are The Ones Who Perpetrated This Scam Not Bank Shareholders / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes:
Haters of the big banks cheered when Federal prosecutors decided to sue Bank of America (NYSE: BAC), alleging that they defrauded Fannie Mae and Freddie Mac of at least $1 billion.
But they shouldn't have. Because no matter how satisfying it might be to see justice done after the financial crash of 2008, the truth is the real crooks have already gotten away.
Read full article... Read full article...
Tuesday, October 16, 2012
Was CEO Pandit Pushed Out of Citigroup? / Companies / Banking Stocks
By: Bloomberg
Sheila Bair, former chairman of the FDIC, spoke with Tom Keene and Ken Prewitt on "Bloomberg Surveillance" today about Vikram Pandit's departure as CEO of Citigroup. Bair said that "this was a very positive move and the board discharged its responsibilities and I think they should be commended."
Bair went on to say: "I did have concerns about Mr. Pandit's qualifications to serve as the CEO of the largest commercial bank, because he had never been a commercial banker."
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Thursday, October 04, 2012
Why You Should Be Mad at the Latest JPMorgan Lawsuit / Companies / Banking Stocks
By: InvestmentContrarian
Why You Should Be Mad at the Latest JPMorgan LawsuitWe all know that politicians are willing to do anything to get into the limelight, gain favor among the citizens, and then use this leverage for their own gain. The latest lawsuit against JPMorgan Chase & Co. (NYSE/JPM) is so stupid and ridiculous that it would be funny if it weren’t going to cost taxpayers millions of dollars to pay for all of the lawyers involved.
Read full article... Read full article...
Thursday, August 23, 2012
Are Big Banks Making a Comeback? / Companies / Banking Stocks
By: InvestmentContrarian
George Leong writes: The subprime credit crisis that surfaced in 2008 drove Lehman Brothers to bankruptcy, along with causing significant upheaval and driving the U.S. and global economies into a global recession. The aftermath was a structural change to the way banks do business, specifically, the amount of risk assumed by a bank via sophisticated strategies.
Wednesday, August 15, 2012
It's Game Over, Goldman Sachs Has Won / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes:
I'll make this short.
It's game over.
The match that ended last Thursday wasn't the final match in the series being played here on U.S. fields.
Read full article... Read full article...
Wednesday, August 08, 2012
Borat Talking About Breaking Up Banks / Companies / Banking Stocks
By: Bloomberg
Today on Bloomberg TV's "Market Makers," former Bear Stearns CEO and JP Morgan Vice Chairman Emeritus Ace Greenberg talked about Sandy Weill's recent comments about breaking up big banks - saying he didn't believe Sandy made the comments. Greenberg said, "It was that guy Sacha Barry Cohen, or whatever his name is...Yeah, he was impersonating Sandy. I know Sandy."
Thursday, July 19, 2012
Are Big Banks Criminal Enterprises? / Politics / Banking Stocks
By: Washingtons_Blog
Here are some recent improprieties by the big banks:
Laundering money for drug cartels. See this, this,this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis)
Laundering money for terrorists
Thursday, June 21, 2012
Of Course I Would Like to be CEO of Goldman Sachs / Companies / Banking Stocks
By: Bloomberg
BLOOMBERG EXCLUSIVE: Gary Cohn, president and COO of Goldman Sachs, appeared on Bloomberg TV's "Market Makers" today with Erik Schatzker and said, "of course I would like to be CEO of Goldman Sachs." He also said, "I can tell you for sure it is not good for us to have JPMorgan going through what they're going though."
Friday, June 01, 2012
Inside JPMorgan's Magical Fun Palace / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes:
The financial system wasn't fixed after 2008, and it won't be fixed anytime soon.
The unexpected $2 billion - or is it $5 billion? -- loss incurred by JPMorgan Chase (NYSE:JPM) "whale" trader Bruno Iksil shows only too clearly the flaws in Dodd-Frank and other regulatory activity.
Read full article... Read full article...
Wednesday, May 16, 2012
Capitalizing on India’s Rapid Rural Growth with HDFC Bank (NYSE: HDB) / Companies / Banking Stocks
By: Yiannis_G_Mostrous
India’s HDFC Bank (NYSE: HDB) reported strong first-quarter earnings growth of 30 percent year over year. Fee growth also picked up by 25 percent YoY. Loan growth was a little lower at 21 percent YoY, because of the slowdown and uncertainty in the Indian economy. That said, retail loans increased by 55 percent, indicating stronger than expected consumer demand.Read full article... Read full article...
Wednesday, May 16, 2012
Money Center Banks and Stricter Financial Oversight / Companies / Banking Stocks
By: BATR
Once again, the practices of the "Too Big to Fail" banksters bring the financial money machine to the brink. The J.P. Morgan derivative losses and trading gambles by their "London Whale" demonstrates business as usual in the murky world of risk distortion. Even the vexing progressive Robert Reich makes an accurate assessment for breaking up the big banks and the resurrecting of Glass-Steagall.
Tuesday, May 15, 2012
Jamie Dimon: JPMorgan's Chief is the World's Funniest Financier / Companies / Banking Stocks
By: Janet_Tavakoli
Sure the economy is still a mess, unemployment is high, civil services and pensions are being slashed, a record number of people are on food stamps, and families are losing homes. But Jamie Dimon, Chairman and CEO of JPMorgan Chase, does his best to distract the United States from these unpleasant realities.
Tuesday, May 15, 2012
JPMorgan Busted Bet Was No Chance Encounter / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes:
This weekend I was strolling by JPMorgan Chase's (NYSE: JPM) Park Avenue office building in Manhattan.
It was 11:40 am, and I was returning from a long walk from my midtown hotel down to Chelsea (it was definitely "a Chelsea morning" in NYC... thank you Joni Mitchell).
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Friday, May 11, 2012
JP Morgan $2 Billion Derivatives Trading Loss, Jamie Dimon the Man Who Knew Nothing / Companies / Banking Stocks
By: Brady_Willett
News that JP Morgan lost $2 billion trading synthetic credit securities is spreading like wild fire. Shares of JPM are deeply in the red. The stench of Volcker is in the air:
"It's a pretty stunning admission for a company that prides itself on its risk management systems and the strength of its balance sheet. The timing couldn't be worse for the industry. At the end of the day, it will have ramifications across the broker-dealer community." Sterne Agee analyst Todd Hagerman.
Read full article... Read full article...
Wednesday, April 25, 2012
Goldman's Blankfein Discusses the Vampire Squid / Companies / Banking Stocks
By: Bloomberg
Bloomberg TV anchor Erik Schatzker spoke with Goldman Sachs CEO Lloyd Blankfein today. Blankfein said "shame on us in a way for not anticipating how important" public sentiment would be for maintaining Goldman's reputation.
Blankfein also said, "I tend to be a little more positive [on the markets] than what I'm hearing from other people...one of the big risks that people have to contemplate is that things go right."
Read full article... Read full article...
Friday, April 13, 2012
Is Now the Time to Bank on Financial Stocks? / Companies / Banking Stocks
By: Money_Morning
Don Miller writes:
Based on recent performance from the sector's biggest names, it's easy to argue that financial stocks are making a comeback.
Capital One Financial Corp. (NYSE: COF) is up 27% in 2012. Citigroup Inc. (NYSE: C) is up 29%. Bank of America Corp. (NYSE: BAC) is up a whopping 59%.
Read full article... Read full article...
Tuesday, March 20, 2012
Here is What's Wrong With Bank of America (NYSE: BAC) / Companies / Banking Stocks
By: Money_Morning
Keith Fitz-Gerald writes:
If you have a mortgage with Bank of America (NYSE: BAC) and want to refinance, don't bother.
You are not worth the bank's time. Or at least I wasn't.
That's what I learned first-hand last week when I called Bank of America to refinance a home mortgage I've had with them for years.
Read full article... Read full article...
Monday, March 19, 2012
What Do Customers Really Think About Goldman Sachs? / Politics / Banking Stocks
By: Janet_Tavakoli
Last week a Goldman Sachs former employee Greg Smith wrote an op-ed for the New York Times explaining why he was resigning from Goldman Sachs. He alleged Goldman's culture had recently deteriorated and that Goldman's "toxic and destructive" culture isn't doing right by its clients.
Monday, March 19, 2012
Goldman's God Problem on Executive Pay / Politics / Banking Stocks
By: EconMatters
In addition to suffering a one-day $2 billion loss in market value on March 12 bestowed upon by the Goldman Letter at New York Times on March 12 , Goldman also has to deal with God problem regarding executive compensation packages as well.
According to Reuters, in the past two years, a group of religious institutions that hold Goldman shares, including the Sisters of St. Francis of Philadelphia, has been successful in getting its proposal requiring Goldman to conduct an independent examination of whether Goldman's executive pay levels were appropriate taken into regular shareholders' meetings.
Friday, March 16, 2012
The Real Truth About Goldman Sachs... / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes:
By now you've heard about Greg Smith.
He's the former executive director of Goldman Sachs (NYSE: GS) who pulled a Jerry Maguire on Wednesday while resigning from the illustrious Vampire Squid.
Read full article... Read full article...
Thursday, March 15, 2012
Parasitic Behaviour of Goldman to Its Clients Sachs Prompts Resignation / Politics / Banking Stocks
By: Mike_Shedlock
Greg Smith's op-ed in the New York Times "Why I Am Leaving Goldman Sachs" is precisely the catalyst that will eventually bring reform to the securities industry.
Denial Coming Up
Unfortunately, neither the Fed nor the SEC has any inclination to do anything about industry-wide fraud and corruption, therefore immediate results are not forthcoming.
Read full article... Read full article...
Thursday, March 15, 2012
Goldman Sachs: Greed Is Good / Companies / Banking Stocks
By: EconMatters
Scandal and headlines seem to perpetually follow Goldman Sachs (GS), a firm that's simply doing "God's Work". On Wed. March 14, Goldman's name once again burnt up the Internet, and social media. This time it was from a resignation letter by one of its top executives published as an op-ed at the New York Times.
Thursday, February 16, 2012
“No QE3″, Retracement Level Stalls Financial Stocks / Companies / Banking Stocks
By: Chris_Ciovacco
Since financial stocks make up 14% of the S&P 500 Index, it is difficult to sustain a rally without strength in banks and financial services firms. With the Fed and ECB opening up the liquidity fire hydrant in late December 2011, bank stocks experienced another in a series of monster bailout rallies. As outlined below, the Financials Select Sector ETF (XLF) may be poised to give back some gains over the coming sessions based on numerous factors including reduced odds of QE3.
Wednesday, February 15, 2012
Betting on Canada's Best Banks / Companies / Banking Stocks
By: Roger_Conrad
Betting on Canada's Best Banks
Will Europe resolve its sovereign debt crisis and return to growth in 2012? Or will, as so many fear, the Continent’s economic unity dissolve and its banking system and common currency collapse, dragging the rest of the world into another recession?
Friday, January 27, 2012
Powerful Consolidation Coming in Banking as a Consequence of Overcapacity / Companies / Banking Stocks
By: Bloomberg
Bloomberg TV's Erik Schatzker spoke to Deutsche Bank incoming co-CEO Anshu Jain, who said that he foresees "powerful consolidation" in the industry and those banks who survive will '"actually wind up with a margin expansion over time."
Thursday, January 19, 2012
Banking Analyst Brad Hintz: 'We Should Tip Our Hat to Morgan Stanley' / Companies / Banking Stocks
By: Bloomberg
Bloomberg TV's Margaret Brennan spoke to banking analyst Brad Hintz this morning, who told Bloomberg TV, "We should kind of tip our hat to Morgan Stanley. They pulled one off here in terms of reducing some of their potential exposure to some of the weaker European banks."
Wednesday, January 18, 2012
Banking Sector Analysis / Companies / Banking Stocks
By: Mike_Paulenoff
Sign up for a free 15-dBelow is a newly created daily sector chart for the big investment & trading banks accompanied by a chart of the cash S&P 500 for comparison and relative strength purposes.
The SPX currently is on a bullish signal. Only a decline that breaks 1277.50 will neutralize the signal.
Read full article... Read full article...
Tuesday, December 27, 2011
Banking Stocks Downtrend Still Dominant / Companies / Banking Stocks
By: Mike_Paulenoff
Despite last week's rally in the major trader/broker banks, let's notice that none of the upmoves in Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) inflicted significant damage to the still-dominant downtrends.
You can see the near- and intermediate-term resistance levels labeled on the enclosed charts. Only BAC made a new low (4.92) for the bear phase, and then staged a 15% multi-day rally to 5.65, but appears to have stalled right at its nearest-term hourly resistance line.
Read full article... Read full article...
Wednesday, November 30, 2011
Trouble in China, and Trouble for U.S. Banks? / Stock-Markets / Banking Stocks
By: Marty_Chenard
Our country's top Banks and Financial institutions were downgraded yesterday. Stocks included in the downgrade were: BAC, JPM, WFC, C, MS, and GS.
But at 7:16 AM this morning, the futures were indicating that ALL of them were showing a pre-market rise in their values.
Read full article... Read full article...
Monday, November 21, 2011
The Goldman Sachs Rule: Don't Let This Puppet Master Pull Your Strings / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes:
Goldman Sachs Group Inc. (NYSE: GS) Chief Executive Officer Lloyd Blankfein was really on a roll speaking at an investment conference in New York last week.
Among other things, he said there's no way we can conclude that a slowdown in banking and trading businesses is "secular, rather than cyclical."
Read full article... Read full article...
Tuesday, November 08, 2011
Banking Sector Crisis 2011, What I Learned From My Lunch with Citigroup's Vikram Pandit / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes:
I've long been bearish on bank stocks and financials - but something happened last week that made me rethink my position.
I was having lunch with Citigroup Inc. (NYSE: C) Chief Executive Officer Vikram Pandit, and he had some interesting points.
Read full article... Read full article...
Tuesday, November 08, 2011
Important Stock Market Banking Sector Situation / Stock-Markets / Banking Stocks
By: Marty_Chenard
Below is a weekly chart of the Banking Index. Take a good look at the lines labeled 1 and 2.
What do you see?
Looking at the chart, you should see that the SPY has been trending up since April 2010, while the Banking Index (symbol: $BKX) has been trending down since April 2010.
Read full article... Read full article...
Thursday, November 03, 2011
One Man's Mission to Build the World's Safest Bank / Companies / Banking Stocks
By: Money_Morning
Peter Krauth writes:
One Canadian entrepreneur may well be forging an innovative path to changing the global banking landscape - for the better. And in the process he may build the world's safest bank.
Eric Sprott, the billionaire resource investment guru, is buying 51% of Ontario currency trader Continental Currency Exchange Corp., with the aim of making it into a financial institution that, refreshingly, will not make loans.
Read full article... Read full article...
Thursday, October 27, 2011
Why We Warned You Not to Buy Bank Stocks / Companies / Banking Stocks
By: Money_Morning
Kerri Shannon writes:
If you weren't convinced before, hopefully you've seen the light now: Don't buy bank stocks.
Money Morning Global Investing Strategist Martin Hutchinson first warned it was time to bail on bank stocks on Aug. 17. He said the sector was headed for a "catastrophic decline."
Read full article... Read full article...
Monday, October 24, 2011
Bank Earnings, Heads I Win Tails You Lose / Companies / Banking Stocks
By: Tony_Pallotta
The "Too Big To Fails" have reported Q3 2011 EPS and in a word, horrible. On the surface earnings looked like another beat on both the top and bottom line but simply reading through the press release reveals the truth about how desperate the banks are right now.
Their ability to generate real income has simply vanished. With a flat yield curve, constrained consumer and a balance sheet loaded with risk they only have one tool left. Their last line of defense between the reality of insolvency and the absurdity of accounting is known as CVA.
Read full article... Read full article...
Friday, October 21, 2011
Bank Stocks Are Bad Investments - But Excellent Trading Opportunities / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes:
Long gone are the days when bank stocks were safe investments. Now, and for the foreseeable future, the only safe way to play banks and financials is by trading them.
Banks face so many issues, both in the near term and on a long-term secular basis, that putting shares away, even now when they look cheap, could be hazardous to your wealth and your mental state.
Read full article... Read full article...
Thursday, October 13, 2011
Big Banks Are About to Get Blasted by the Volcker Rule / Stock-Markets / Banking Stocks
By: Money_Morning
David Zeiler writes:
When the Volcker Rule regulations go into effect next year, its restrictions could slam the revenue of the fixed income trading operations of several major U.S. banks by as much as 25%.
The Volker Rule is one of the elements required by the Dodd-Frank financial oversight law, which was written to rein in the sort of excessive Wall Street risk-taking that led to the financial crisis of 2008.
Read full article... Read full article...
Monday, October 10, 2011
Dump Deutsche Bank Before It’s Squeezed by Europe’s Capital Crunch / Companies / Banking Stocks
By: Money_Morning
Jack Barnes writes:
Frankfurt-based Deutsche Bank AG (NYSE: DB) is about to be critically wounded by the European banking crisis.
Don't get me wrong - it will survive the spiraling financial mess. Germany will defend it because it's the bellwether of big banking in Europe. It's their version of "too big to fail."
Read full article... Read full article...
Monday, October 10, 2011
How to Profit From the Collapse of Europe's Lehman Bros Bank / Companies / Banking Stocks
By: Money_Morning
Keith Fitz-Gerald writes:
Back in July, I warned you that Europe probably had its own Lehman Bros. - an unstable financial institution on the brink of a collapse.
At the time, I didn't know exactly which institutions were most at risk.
Read full article... Read full article...
Wednesday, September 28, 2011
U.S. Banks Exposure to the $200 trillion US Derivatives Market / Companies / Banking Stocks
By: Sam_Chee_Kong
"The few who understand the system, will either be so interested from it's profits or so dependent on it's favors, that there will be no opposition from that class." Mayer Amschel Bauer Rothschild
According to the Office of the Comptroller of the currency (OCC) in their latest quarterly report on Bank Trading and Derivatives Activities for the fourth quarter of 2008,
Read full article... Read full article...
Friday, September 16, 2011
Rogue Trader Costs UBS $2 Billion, Stock Price Plunges 11% / Companies / Banking Stocks
By: Money_Morning
David Zeiler writes:
A rogue trader at UBS AG (NYSE ADR: UBS) lost $2 billion on a series of unauthorized transactions, the bank disclosed yesterday (Thursday) despite internal risk controls designed to prevent such activity.
An employee of the London UBS desk that trades exchange-traded funds (ETFs), 31-year-old Kweku Adoboli, was arrested yesterday on suspicion of fraud.
Read full article... Read full article...
Wednesday, August 17, 2011
It's Time to Bail Out of Bank Stocks / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes:
There was a time when bank stocks actually looked like good investments. And many, having racked up big gains over the past two years, proved to be just that.
But sadly, U.S. banks no longer offer the value and profit-making potential they did immediately following the financial collapse. In fact, they're actually heading for what could be a catastrophic decline.
Read full article... Read full article...
Friday, July 29, 2011
JPM Carving Bottom Formation / Companies / Banking Stocks
By: Mike_Paulenoff
Lately, with the debt ceiling negotiations usurping everyone's thought processes, excitement about last week's powerful upmove in the financials and banks has faded into the background. Purely from a technical perspective, however, JP Morgan (JPM) is acting very well as it continues to carve out an intermediate term bottom formation, presumably ahead of a thrust that projects to 45.00-46.00.
Read full article... Read full article...
Tuesday, July 19, 2011
Summarizing Bank Earnings With Two Charts / Companies / Banking Stocks
By: Tony_Pallotta
Now that the big banks have reported below are two charts that sum up how they are doing aside from the noise of "beating expectations."
Read full article... Read full article...
Thursday, July 14, 2011
Investors Avoid Financials, Bank Earnings Are Set to Slide / Companies / Banking Stocks
By: Money_Morning
David Zeiler writes:
Flat or falling revenue will plague major bank earnings as second-quarter results are reported this week - delivering yet another blow to battered financial stocks.
Most of the big banks are expected to report a profit, but a falloff in equity trading volume, weak demand for loans, and costly legal headaches all ate into revenue, which will be a prime concern for already-skeptical investors.
Read full article... Read full article...
Monday, June 13, 2011
Bank of America House of Cards on the Verge of Collapse / Companies / Banking Stocks
By: Money_Morning
Jack Barnes writes: Bank of America Corp. (NYSE: BAC) is one of the largest banking complexes in the United States. But its strategy of growing through acquisitions has left the company terribly vulnerable to an economic downturn.
That's why it's time to "Sell" Bank of America Corp. (**).
Read full article... Read full article...
Wednesday, May 25, 2011
Bank Earnings Rise In Q1 2011 / Companies / Banking Stocks
By: Tony_Pallotta
On Tuesday the FDIC announced that bank earnings in Q1 2011 are improving, up 66.5% from Q1 2010. In fact bank earnings are back to Q2 2007 levels. Sounds great on the surface.
The problem is what has driven earnings is not real growth but rather an accounting gimmick. Provisions for loan losses or the amount of money reserved for future losses have fallen from $39.2 billion in Q2 2009 (the peak) to $10.3 billion in Q1 2011, a 76% reduction.
Read full article... Read full article...
Friday, April 15, 2011
The Financial Sector Will Have a Major Impact on the SP 500 / Stock-Markets / Banking Stocks
By: Marty_Chenard
Regardless of whether a compromise is reached over the approaching lockdown of the United States ceiling and the raising of the debt, this impasse has momentous significance for holders of gold (SPDR Gold Shares (GLD)) and silver (iShares Silver Trust (SLV)). The serious weaknesses of our economic structure is exposing it as a paper tiger. Instead of seeking fiscal sanity, the inability of our leaders to agree on even the smallest of issues is reminiscent of the Roman Empire dealing out bread and circus to the masses when Rome could no longer afford the good times and the games.
Read full article... Read full article...
Friday, April 01, 2011
Don't Let 'Zombie Banks' Terrorize Your Portfolio / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes:
In February 2009, I examined the top 12 U.S. banks and gave a generally bullish outlook for them, pointing out that at a fraction of net asset value, their shares were mostly good bargains.
Only a few banks had longer-term problems because of the poor qualities of their loan portfolios. I termed those "zombie banks," and warned that they might not emerge from public ownership.
Read full article... Read full article...
Friday, December 10, 2010
Crash Silver, Buy JP Morgan and Prevent Financial Armageddon / Stock-Markets / Banking Stocks
By: Nadeem_Walayat
The "Crash JP Morgan, Buy Silver " internet campaign has been gathering momentum for several months now as individual investors increasingly jump upon the rolling bandwagon by buying a few silver coins. The high profile proponents of the campaign include Max Keiser, Mike Maloney and Alex Jones amongst many others. Whilst they are correct in identifying JP Morgan as being the worlds largest market manipulator that continious to leech the life blood out of the US Economy via the corrupt institution that is the U.S. Federal Reserve Bank that literally makes unlimited funds available at JPMorgans disposal.
Tuesday, October 19, 2010
Investment Bank Earnings Highlight Wall Street’s New Vulnerabilities / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: The collapse of The Bear Stearns Cos. and Lehman Brothers Holdings Inc. (OTC: LEHMQ), the forced takeover of Merrill Lynch and the decisions by Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) to get commercial-banking licenses seemed to signal that the investment-banking business model was dead.
Since then, however, Goldman Sachs, in particular, has posted an astonishing run of profitability, earning gigantic sums even while the rest of the U.S. economy languished.
Read full article... Read full article...
Friday, October 01, 2010
Small U.S. Regional Banks Fast Becoming Takeover Targets / Companies / Banking Stocks
By: Money_Morning
Don Miller writes:
Sharks are circling the beleaguered financial services industry and the upshot may well be a wave of mergers and acquisitions (M&A) that analysts say could lead to higher valuations, especially for smaller, regional banks.
Activity in the financial services industry has been subdued for the past three years as weak loan growth, shrinking profit margins, increased regulation and low valuations kept investors at bay. But now forces pressuring the industry to contract "will create more willingness to sell from bank management teams and board of directors over the next year," and drive consolidation, according to the report by Credit Suisse Equity Research.
Read full article... Read full article...
Monday, September 13, 2010
U.S. Bank Profits Back to Pre Credit Crisis Heights / Companies / Banking Stocks
By: Barry_Grey
US bank profits returned to their pre-crisis heights in the second quarter of this year, according to a report released by the Federal Deposit Insurance Corporation (FDIC), the regulatory agency that insures consumer deposits at commercial banks.
Friday, August 20, 2010
Broken Bank Stocks a Canary in the Stock Market Coal Mine? / Stock-Markets / Banking Stocks
By: Mike_Larson
If there’s one sector of the stock market that trades like death warmed over, it’s the financials. Bank stocks simply can’t get out of their way these days.
Take the KBW Bank Index (BKX) of 24 leading U.S. banks. You can see in this chart that it plunged in April and May, and it hasn’t been able to get off the mat since. In fact, just this week, it’s collapsing to fresh, multi-month lows.
Read full article... Read full article...
Monday, August 16, 2010
Banking Stocks Index Shows Unusual Oversold Pattern? / Stock-Markets / Banking Stocks
By: Marty_Chenard
Last Monday, we posted the Banking Index chart and discussed its impending breakout of a triangular pattern.
As you may recall, the implications were for a 10%+ down move if it broke to the downside.
Read full article... Read full article...
Tuesday, August 03, 2010
Bank Stress Test: How to Find the Safest Banks in the U.S. and Abroad / Companies / Banking Stocks
By: EWI
Stress test results for the biggest European banks were recently released, while the largest U.S. banks took their first stress tests in May 2009. But most people don't really care how much stress their banks are under; they are more worried about their own stress levels. One thing that adds to personal stress is worrying about whether their deposits are in a safe place. Bob Prechter has encouraged people to find the safest banks for their money since he originally wrote his New York Times best-selling book, Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression in 2002.
Thursday, July 08, 2010
Big U.S. Banks Laundered Money From Drug Trafficking / Politics / Banking Stocks
By: Pravda
Wells Fargo, Bank of America, Citigroup, American Express and Western Union have profited over the years with laundering money from drug trafficking and only pay minimal fines, with no executive jailed when authorities were able to detect illicit transactions. These U.S. banks have admitted failing to comply with federal regulations and laws to control money laundering, participating in the transfer of billions of dollars in illicit funds from drug smuggling in Mexico.
Wednesday, June 02, 2010
The Most Thorough Analyst is Now Buying CitiGroup / Companies / Banking Stocks
By: DailyWealth
Dr. Steve Sjuggerud writes: Hedge-fund manager Bill Ackman once received a six-figure photocopying bill from a law firm... for 140,000 pages of photocopying.
The attorney general wanted Ackman's investment research on MBIA. So he subpoenaed it... and got all 140,000 pages.
Tuesday, May 04, 2010
Your Best Chance to Make 10 Times Your Money in the Stock Market / Stock-Markets / Banking Stocks
By: DailyWealth
"We've suddenly got some activity..."
My father lives in a wealthy suburb of New York, where many Wall Street bankers live. He's been trying to sell his house for nearly three years...
Wednesday, April 21, 2010
Goldman Sachs Charged With Fraud: Who Could Have Guessed? Part II / Companies / Banking Stocks
By: EWI
In the November 2009 issue of Elliott Wave International's monthly Elliott Wave Financial Forecast, co-editors Steven Hochberg and Peter Kendall published a careful study of Goldman Sachs company history -- and made a sobering forecast for the firm's future: "Goldman Sachs will experience an epic fall."
Monday, April 19, 2010
Goldman Sachs Charged With Fraud: Who Could Have Guessed? / Companies / Banking Stocks
By: EWI
April 16, (Reuters) - Goldman Sachs Group Inc was charged with fraud on Friday by the U.S. Securities and Exchange Commission in the structuring and marketing of a debt product tied to subprime mortgages.
Monday, April 19, 2010
Goldman Sachs, Financial Stocks Sector XLF ETF Analysis / Companies / Banking Stocks
By: Mike_Paulenoff
This week we look at a few of the financials to analyze the chart structures after Friday's major downside reversal in Goldman Sachs Group (GS) and other related financials.
Saturday, April 17, 2010
The End Game for the Goldman Sachs (GS) "Crisis" / Companies / Banking Stocks
By: Trader_Mark
If you are new to the market and think today was some sort of game changer... please don't worry. Malfeasance is now the root of the US casino, we go through one of these episodes every 3-5 years and come back stronger and more malfeasant! (I made that word up) That said, days like today are for enjoyment since they break up the normal - any day Goldman stock falls and Cramer gets exposed by a man never to see the CNBC light of day ever again is a day to cherish. But it changes nothing.
Read full article... Read full article...
Friday, April 09, 2010
How to Profit from the Coming Plague of Busted Bankrupt Banks / Companies / Banking Stocks
By: DailyWealth
Tom Dyson writes: Hundreds of banks are about to fail...
Three banks failed in 2007. Twenty-five banks failed in 2008. One hundred and forty banks failed in 2009. Forty-one have failed already this year... and hundreds more will fail soon.
Tuesday, March 30, 2010
U.S. Treasury to Sell $7.7 Billion Stake in Citigroup / Companies / Banking Stocks
By: Money_Morning
Don Miller writes: The U.S. Treasury Department said yesterday (Monday) that it plans to sell the government's $7.7 billion stake in Citigroup Inc. (NYSE: C) this year, bringing the bank one step closer to leaving the bailout program.
Read full article... Read full article...
Thursday, February 25, 2010
RBS Makes £3.5 Billion Loss, Pays £1.3 Billion of Tax Payer Cash as Bonuses / Companies / Banking Stocks
By: Nadeem_Walayat
The tax payer bailed out and 84% owned RBS bank declared a loss for 2009 of £3.6 billion. The loss would have been infinitely larger had the government and the Bank of England had not bend over backwards to engineer a banking system that effectively funnels cash into the bankrupting banks balance sheets. Despite the headline loss and despite the fact that ALL earnings are directly as a consequence of the tax payers ,RBS STILL paid out a bonus of £1.3 billion which illustrates why nothing has changed amongst the bankster's that continue to hold the country to ransom at gun point.
Thursday, January 14, 2010
Goldman Sachs The Giant Vampire Squid’s Journey To The East / Companies / Banking Stocks
By: Darryl_R_Schoon
Usury, once a venal sin, was now commonplace and bankers who live by the charging of interest were considered respectable. The hand of evil was everywhere as the end-times, the end of days, were upon them.
Rolling Stone writer Matt Taibbi’s description of Goldman Sachs as a Giant Vampire Squid which wraps itself around its victims draining them of their productivity and profits is chillingly accurate.
Read full article... Read full article...
Tuesday, December 29, 2009
Bullish Consolidation for JP Morgan / Companies / Banking Stocks
By: Mike_Paulenoff
JP Morgan (NYSE: JPM) has been treading water for the past few sessions, and just may continue to do so into Thursday's year-end close. That notwithstanding, the pattern suggests strongly that another upleg is approaching in the upcoming hours/days. For the past week all of the action in JPM appears to have taken the form of a bullish consolidation period in the aftermath of the recent upleg from 40.03 to 42.24. Let’s notice that the consolidation has found resistance just above 42.00 while support resides around 41.50.
Read full article... Read full article...
Tuesday, November 24, 2009
Can U.S. Bank Stocks Double Again in 2010? / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: In February 2009, I reviewed the operations of the 12 largest U.S. banks, and concluded most of them were sound.
In fact, I told Money Morning readers that the soundest were at that point excellent investment opportunities.
Read full article... Read full article...
Tuesday, October 06, 2009
Are Bank Stocks A Bad Bet? / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: Billionaire investor George Soros said yesterday (Monday) that the U.S. recovery would be a slow one because of all the “basically bankrupt” financial companies impeding it.
Wednesday, September 16, 2009
Banking on RKH Regional Bank HLDRs ETF / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Let’s notice that the Regional Bank HLDRs ETF (AMEX: RKH), which we added yesterday, continues to climb to new recovery highs, hurdling the August double-top at 81.45/49 in the process, which usually is a very constructive technical event. If the RKH sustains for today’s session above 81.50, then my next target becomes 85.20/60. The heaviest weightings in the ETF are JPM, WFC, USB, BAC, NTRS, PNC, BK, BBT and STI.
Read full article... Read full article...
Monday, September 14, 2009
Banking Stocks Index BKX Going Down, Shorting Opportunity XLF ? / Companies / Banking Stocks
By: Marty_Chenard
On September 4th, Wilbur Ross said that he expected 500 more banks to fail between then and the end of 2010.
This morning, economist Nouriel Roubini told CNBC that he was predicting that "more than 1,000 financial institutions could fail before all is said and done".
Read full article... Read full article...
Wednesday, September 02, 2009
Financial Stocks on Tsunami Watch / Stock-Markets / Banking Stocks
By: David_Urban
After seeing quite a large rally from the March lows the market appears to be extended and indicators (stocks above 200 day moving average, market PE, bullish/bearish %'s) are signaling some rough seas ahead. While stock could conceivably move higher there are a few reasons why I am bearish at the present time.
Monday, August 24, 2009
The Fraud Of The Federal Reserve Bank / Companies / Banking Stocks
By: Captain_Hook
Far too many look for easy ways to get rich quick these days, only to be disappointed or shocked when reality bites in the end. Because of this there are no shortage of Ponzi like schemes characterizing the financial landscape, one by one being found out to be frauds, with Bernie Madoff at the top of the list in history thus far. The public was shocked when they discovered the size of the Ponzi scheme he was able to put together and perpetuate for so long, as usually, operations like this fall apart much quicker.
Thursday, August 13, 2009
Financials Stocks Catch a Bid / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Thanks to publicity of the Paulson & Co., 13F filing, which shows a substantially long position in Bank of America (NYSE: BAC) and Goldman Sachs (NYSE: GS), the Financial Sector Sector ETF (NYSE: XLF) has caught a bid here this morning, which extends its upmove off of yesterday’s pullback low at 13.70.
Read full article... Read full article...
Wednesday, August 05, 2009
Financial Sector Stocks XLF ETF Nearing a Peak? / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Now that the Financial Select Sector SPDR (NYSE: XLF) has climbed to my optimal next upside target zone 13.80-14.00 (I took my profit late yesterday), let's notice that the price structure has climbed vertically towards the top trendline of the July bullish price channel. My near term work aruges that we should expect a peak in and around the 14.00-14.20 area in the upcoming hours, which could coincide with the rebalance of Citigroup (C) after the close this evening. C is going into the S&P 500, and supposedly The Street must buy 650 million shares to "rebalance" their index portfolios.
Read full article... Read full article...
Friday, July 31, 2009
Financial Stocks ETF XLF Needs to Break Its Down Trendline / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
The big picture of the Financial Select Sector ETF (XLF) shows that the
recovery
thus far has not yet challenged the dominant bear market down trendline,
which cuts across the
price axis at approximately 14.30 as we speak. Should the XLF seek out a
test of its major down
trendline in the next two weeks, the price structure will have to climb
another 10%. Of course, to do that
the index will have to climb above its prior recovery rally peak at 13.05,
which should trigger acceleration
towards the test of the 2 year down trendline. If the upmove exceeds the
trendline at 14.30, my work will
trigger higher intermediate term swing targets at 15.30 and then 18.00.
Wednesday, July 29, 2009
Will Citigroup Lose its Top Energy Trader? / Companies / Banking Stocks
By: Money_Morning
Jason Simpkins writes: Grow Rich Automatically with the World’s Only Gold-Backed "Cash" The U.S. Treasury Dept. has finally approved the new gold-backed "cash." And according to gold expert Peter Schiff, this new money, called "Gold Dollars," is not only the best place for your savings today... it could prove very profitable. Why? Because every "dollar" you hold in your bank account is backed by 1 gram of solid gold, held in Fort Knox-like security. So when each gram of gold goes up in value, so does your cash! (Meanwhile, you can spend your money just like you would regular paper dollars.) For Schiff's full report, please go here.
Read full article... Read full article...
Wednesday, July 29, 2009
Why You Should Not Bank on Banking Stocks / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: Can U.S. bank stocks continue their winning streak?
In February, I analyzed the top 12 U.S. banks to determine whether they really needed $1.5 trillion in taxpayer-provided bailout capital. I concluded that only a few of those banks seemed to be in any danger of collapse, and actually recommended several.
Read full article... Read full article...
Saturday, July 25, 2009
The Banking Crisis Winners and Losers / Companies / Banking Stocks
By: Money_and_Markets
Mike Larson writes: The government is helping to create a two-class system of banks — winners and losers.
Despite their protestations to the contrary, the bailout efforts of the Federal Reserve and the Treasury Department have helped fuel big gains at certain institutions; while their reluctance to prop up others has lead to their near-demise.
Read full article... Read full article...
Thursday, July 16, 2009
Goldman Sachs and Morgan Stanley, the Financial Sector’s Profit Powerhouse of the Future / Companies / Banking Stocks
By: Money_Morning
Shah Gilani writes: If Goldman Sachs Group Inc.’s (NYSE: GS) blowout second-quarter earnings demonstrated one thing, it’s that the new “equity-merchant-banking model” - the replacement for the Wall Street investment bank of pre-financial-crisis days gone by - is where financial-sector investors will make their money for years to come.
Friday, July 03, 2009
Listen to Citigroup Analysts at Your Own Peril / Companies / Banking Stocks
By: Mike_Shedlock
Citigroup analysts appear to be a hopeless lot. Please consider this July 1, analyst recommendation: Citi tells clients to buy Bank of America.
Tuesday, June 30, 2009
Financial Stocks XLF ETF at a Crossroads / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
From a technical perspective, my eyes are focused on the Financial Select Sector SPDR (NYSE: XLF), which we notice is attempting to hurdle both the sharply declining 200 DMA (11.95) and key resistance between 12.35 and 12.70. If prices manage to break above the 12.35/70 resistance zone, then we should expect upside acceleration towards 14.00/50 thereafter. In that 40% of the XLF is compromised of JPM (12.2%), WFC (10.32%), BAC (9.64%) and GS (6.79%) and in that all of the aforementioned stocks show a similar bullish coil pattern (with the exception of GS, which has a more powerful set-up than the others).
Tuesday, June 30, 2009
What Happened on the Banking Index Yesterday? / Stock-Markets / Banking Stocks
By: Marty_Chenard
Given the action on the Banking Index in the past week, it is only fair that I post an update on this index today.
The Banking Index has been one of those fascinating charts that has been amazing relative to support and resistance levels.
Read full article... Read full article...
Wednesday, June 17, 2009
Banking Stocks Sector Index Trend Damage / Stock-Markets / Banking Stocks
By: Marty_Chenard
March ... April ... June ... the Banking index climbed with the market.
In early May, the Banking index topped out at 43.67. And then ... it pulled back sharply.
Read full article... Read full article...
Tuesday, June 09, 2009
Lloyds TSB Sends Cheltenham & Gloucester into Banking Oblivion / Companies / Banking Stocks
By: Nadeem_Walayat
Lloyds TSB the bailed out mega-bank that was brought to the brink of bankruptcy as a consequence of the shot gun wedding with HBOS, has announced that it will be closing down all of the 160 branches of the 100 year old Cheltenham and Gloucester by November of this year resulting in some 1,500 job losses.
Read full article... Read full article...
Sunday, June 07, 2009
FSA Clarifies UK Banks Stress Tests / Companies / Banking Stocks
By: Submissions
FSA writes: The publication in the US of the results of bank stress tests has provoked considerable interest in the use of stress testing by authorities in other countries, in particular in Europe. Stress testing can and has been used in a variety of different ways, and the appropriate degree of disclosure varies according to the purposes of the tests.
Thursday, June 04, 2009
Bullish Formation for Financial Stocks XLF ETF / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
The Financial Select Sector SPDR (AMEX: XLF) has spent the last 4 weeks carving out a coil formation atop its Mar-May upleg, which translates into a bullish continuation pattern, which when complete should trigger upside acceleration towards the next optimal target zone of 13.20/40. As long as the prior pivot low within the coil – at yesterday’s low of 11.88 – remains intact, I want to be long the XLF in anticipation of the upside breakout.
Read full article... Read full article...
Thursday, May 28, 2009
Financials XLF ETF Coiled Pattern About to Break in Which Direction? / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
I scan the various sector charts to see if any of them provide clues about the eventual directional breakout of the major equity market ETFs from "The May Coil" pattern. One “coiling” market is the Financial Select SPDR ETF (NYSE: XLF), which has been traversing a contracting range since its high on May 7 at 13.15. This pattern reflects a classic series of lower highs juxtaposed against higher lows, which when perched atop a major upmove usually breaks out to the upside within the profile of a bull flag continuation pattern.
Tuesday, May 26, 2009
Global Financials Continue to Stabilize / Stock-Markets / Banking Stocks
By: Donald_W_Dony
Models are indicating that the global financial sector continues to form a base and stabilize. As this industry group is a leading indicator to the broader Dow Jones World Stock Index, it suggests that a bottom for the DJWSI is close. Limited downward pressure can be anticipated in June as the iShares S&P Global Financial ETF (IXG) nears the next expected low in late June.
Read full article... Read full article...
Wednesday, May 13, 2009
Pullback Within Incomplete Upleg for Financial XLF ETF / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Let's have another look at the pattern that is unfolding in the Financial Select Sector SPDR (NYSE: XLF), which is my proxy for determining whether or not to enter its inverse ultrashort counterpart, the UltraShort Financial ProShares (NYSE: SKF).
Read full article... Read full article...
Saturday, April 25, 2009
Bank of America’s Ken Lewis: Another Scapegoat / Companies / Banking Stocks
By: Mike_Stathis
The news of Andrew Cuomo's letter to Congress revealing that former Treasury Secretary Paulson threatened to fire Bank of America's CEO Ken Lewis and oust the board if they tried to block the Merrill Lynch deal is not at all shocking to me. Nor is it a surprise that Bernanke “requested” this from Paulson. If you’ve been reading my articles, you know that the Treasury Department is the subordinate of the Federal Reserve. Read full article... Read full article...
Thursday, April 23, 2009
Bank Sector Positive Earnings Reports- It’s Time to Face the Facts, Part 1 / Companies / Banking Stocks
By: Mike_Stathis
For anyone who believes any positive earnings reports from the banks, you probably also believe there will be a real recovery in the economy. These “earnings” are even less credible than those reported by the banks during the height of their Ponzi scheme in 2007. Earnings? From the banks? It’s laughable. Let me now state what I consider to be facts related to the bigger picture of this economic fiasco.
Friday, April 17, 2009
Unfinished Business on the Upside for XLF Financial's ETF / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
The pattern carved out since Tuesday’s recovery high at 11.35 argues that the Financial Select Sector SPDR (NYSE: XLF) has some unfinished business on the upside prior to the completion of the upleg from the March low at 5.88. My optimal target zone is 11.80-12.20. Only a decline that breaks 10.00 will compromise my current outlook.Read full article... Read full article...
Thursday, April 09, 2009
Wells Fargo Lights a Fire Under Stock Market Rally / Stock-Markets / Banking Stocks
By: Marty_Chenard
This morning, some pit traders were saying, "Not so fast, slow down ... I don't quite trust this yet".
Trust what?
Read full article... Read full article...
Friday, April 03, 2009
Financial Stocks Rally on FASB Vote / Stock-Markets / Banking Stocks
By: Oxbury_Research
Shares of financial companies gained a sense of relief Thursday following a much-anticipated decision by the Financial Accounting Standards Board designed to ease mark-to-market accounting guidelines. The Financial Select Sector SPDR ETF (NYSE: XLF) and the SPDR KBW Bank ETF (NYSE: KBE) rose 2.8% and 1.4%.Read full article... Read full article...
Thursday, April 02, 2009
Financials Fail to Lead Stock Market Advance / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
One very disconcerting sign today amidst all the euphoria is the lack of performance in the financials-- after the FASB caved into pressures to modify mark-to-market, and with the price structure of the Financial Select Sector SPDR (NYSE: XLF) pushing up against an important resistance/breakout plateau (9.60/80). Right now, the XLF appears to have failed miserably to "lead" the advance in the larger S&P to the upside. Read full article... Read full article...
Thursday, April 02, 2009
Citibank to Investors: We Suggest You Bet Against Us / Companies / Banking Stocks
By: Mike_Shedlock
In a statement that ought to scare the hell out of the bears Citigroup Says Buy Bank Puts Because Rally Will Fade . March 31 (Bloomberg)
Investors should buy put options on financial companies because derivatives-market trading suggests the industry will retreat after a 43 percent surge since March 6, Citigroup Inc. said.
Read full article... Read full article...
Friday, March 27, 2009
Bullish Formation for Financials XLF ETF / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Let's notice that for the past 5 sessions (while the SPY climbed 6.3%), the Financial Select SPDR ETF (NYSE: XLF) has traded in a well-defined sideways range at the high side of its March upmove. The pattern resembles a Bull Flag formation that should resolve itself to the upside in a thrust to new highs above 9.70 towards the 10.50/80 target zone. At this juncture, only a break below 8.70 will compromise my currently constructive scenario.Read full article... Read full article...
Wednesday, March 18, 2009
Two Bank Stocks to Buy Right Now / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: Although we're still in the middle of the worst financial crisis in decades, a few select banks are positioned to make a boatload of profits. And if you pick the right ones, gains of 100% or more are easily within reach.
The U.S. Federal Reserve's actions in cutting short-term interest rates to almost zero - together with a gentle rise in U.S. Treasury bond yields since the start of the year - have given us a steeply sloping yield curve, where long-term rates are about 3% above short-term rates.
Read full article... Read full article...
Monday, March 02, 2009
HSBC Rights Issue, is Britain's Healthiest Bank Now Also in Trouble? / Companies / Banking Stocks
By: MoneyWeek
We're in trouble now. Arguably the healthiest bank in the FTSE 100, HSBC, is now running to its shareholders with its palm outstretched.
The banking giant said this morning that it's looking to raise £12.5bn from shareholders. It also slashed its dividend by nearly a third. Pre-tax profit for 2008 came in at $9.3bn, down 62% on the previous year, reports the BBC.
Read full article... Read full article...
Thursday, February 26, 2009
Goldman Sachs and Financials XLF: A Tale of Two Charts / Companies / Banking Stocks
By: Kingsley_Anderson
Generally, stocks in the same industry move together. If airline stocks are trending higher, logic would dictate each of the stocks within the group should be moving higher as well. Now, some may move faster and higher than others, those are the best in breed. Sometimes, but rarely, a stock will not move at all. These are usually the “cheap” stocks that some may call a value play. Read full article... Read full article...
Wednesday, February 18, 2009
U.S. Zombie Banks to Avoid and Hidden Gems / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes: U.S. Treasury Secretary Timothy Geithner last week proposed a series of programs, totaling $1.5 trillion, to bail out the U.S. banking system. Of course, Geithner hasn't told us precisely how he plans to spend the money , or identified which banks require such an enormous outlay.
So I thought it was worth looking at the United States' 12 largest banks to see where the problems might be and identify which banks might need big infusions of government cash. I perused the financial statements of all 12 banks, and also looked at their market valuations.
Read full article... Read full article...
Thursday, February 12, 2009
No Transparency In Banking Sector "Stress Test" / Companies / Banking Stocks
By: Mike_Shedlock
The New York times is discussing a "stress test" for banks in Bank Test May Expand U.S. Regulators' Role . Three things stand out. 1. A massive audit of the 18 largest banks is underway.
2. There is no transparency in the audit.
3. There are no details on the alleged "stress test". Moreover, an audit can hardly be construed to be a stress test.
Read full article... Read full article...
Tuesday, February 03, 2009
Wells Fargo's Frightening Balance Sheet / Companies / Banking Stocks
By: Mike_Shedlock
This look at Wells Fargo (WFC) strangely begins with an investigation into 3.875% mortgage loans - fixed for 30 years - offered by Arbor Custom Homes near Portland Oregon. 3.875% is rather interesting given that current mortgage rates are much higher as the following Table of Mortgage Rates from Bloomberg shows.
Read full article... Read full article...
Tuesday, January 20, 2009
America's Beleaguered Banks, Wheres the Bottom? / Companies / Banking Stocks
By: Michael_Pento
Investors who have been pining for a chance to buy into the beleaguered banking sector may have a bit longer to wait. Just this past Friday holders of Bank of America's (NYSE: BAC ) stock were greeted with the reporting of the company's first quarterly loss ($1.79 billion) since 1991. To make matters worse, the company cut its quarterly dividend from $.32 to $.01. The loss prompted a new rescue package totaling $138 billion, which comes on the heels of the recent round of government injected capital of $25 billion last year.Read full article... Read full article...
Tuesday, January 20, 2009
Why did Barclays' Shares Drop 25% in a Day? / Companies / Banking Stocks
By: Andrew_Butter
Answer: The market did not believe the valuations of assets and liabilities.
The Solution?
Well the management of Barclays went on record to say that the valuations were sound and even went so far as to pre-release their numbers. Last time I looked (early on 20th January) the shares had gone down 10% on that news.
Read full article... Read full article...
Monday, January 19, 2009
Royal Bank of Scotland (RBS) on Sale for 12pence / Companies / Banking Stocks
By: Nadeem_Walayat
The Royal Bank of Scotland's share price crashed by 66% on dreadful results. The latest crash in a string of price crashes during the past 18 months has seen RBS go from one of the worlds biggest banks priced at £7.20 per share to a penny stock that has been kept out of bankruptcy by the ever escalating scale of government capital injections and loans, with the latest cash handout taking the Governments stake to 70% and therefore defacto nationalisation of the Bank in all but name.Read full article... Read full article...
Monday, November 24, 2008
Citibank Eight Months Later / Companies / Banking Stocks
By: James_Turk
I last wrote about Citibank eight months ago in an article entitled “Will Citibank Survive?” That article is still posted on MarketOracle.co.uk and can be read at the following link: http://www.marketoracle.co.uk/Article4088.html
To be precise, I should actually be saying “Citigroup” as the bank is only one part of this financial services behemoth. But I guess habits die hard. When I began my business career by joining a major New York City bank nearly forty years ago, banks were just that – banks. They were not the hodgepodge of businesses that many of them have become in their attempt to serve up a smorgasbord of financial services that are not necessarily interrelated.
Read full article... Read full article...
Friday, November 21, 2008
Citigroup Blames Short Sellers For Share Price Crash / Companies / Banking Stocks
By: Mike_Shedlock
Citigroup is in deep trouble and here is the proof: Citigroup Said to Urge SEC to Reinstitute Ban on Short-Selling .
Citigroup Inc., which fell as much as 25 percent in New York trading today, is urging the Securities and Exchange Commission to revive a prohibition on short-selling financial stocks, according to a person familiar with the matter.
Read full article... Read full article...
Friday, October 17, 2008
Investors Should Still Avoid Banking Stocks Despite Bailout / Companies / Banking Stocks
By: Money_Morning
Martin Hutchinson writes:
The $250 billion bank bailout announced Monday is a great improvement on the $700 billion Troubled Asset Relief Program (TARP). However, for those thinking of buying bank stocks on the back of it I would point out one thing: Once the government's plan to take equity stakes in troubled financial institutions is implemented, each of the 117 million U.S. taxpayers will have an average of $2,136.76 already invested. Read full article... Read full article...
Tuesday, September 16, 2008
Wall Street Bargains Amongst Decimated and Bankrupt Banks / Companies / Banking Stocks
By: Money_Morning
William Patalon III writes: In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. ( LEH ) and exited with Merrill Lynch & Co. Inc. ( MER ) agreeing to sell itself to Bank of America Corp. ( BAC ) for nearly $50 billion – and Lehman announcing it will seek bankruptcy in a bid to avoid a total liquidation after it was unable to find a buyer. Read full article... Read full article...
Wednesday, July 30, 2008
Banking Stocks Buying Opportunity of a Lifetime or Capital Destroyers? / Companies / Banking Stocks
By: Richard_Shaw
Banks are a bundles of questions these days. We wrote on July 15 , just before the second quarter reports, that the next week would be a big week, and it certainly was.
Are the banks the buying opportunity of a lifetime, or a treacherous value trap that will destroy your capital?
Read full article... Read full article...
Tuesday, July 22, 2008
The Mother of All Short Squeezes in Financial Stocks.. / Stock-Markets / Banking Stocks
By: John_Mauldin
How do you spell short-selling rally, gentle reader? In this week's Outside the Box we look at several short items (pardon the pun) from various sources, which paint a not pretty picture. The first hit my inbox this morning from Art Cashin (of CNBC fame and also Head Floor Trader for UBS).
" Deconstructing The Rally – The sharp rally that sprang from the new short sale restrictions has been spiky and, in several ways, very powerful. The impact of the short rule change was evident. As Barron's notes, the 150 stocks with the heaviest short interest rallied a stunning 15%. The stocks with the smallest short positions rose only 2%. That may be a function of existing shorts scrambling to cover to pass the new, belated, scrutiny. That thesis got added weight from a couple of areas. The Merrill Lynch results got mostly panned by several analysts and TV pundits. Nonetheless, the stock closed 24% above its lows for the week. Also, the financial sector ETF rose nearly 25% from the lows.
Read full article... Read full article...
Friday, July 18, 2008
Banking Stocks Rally is a Great Selling Opportunity! / Stock-Markets / Banking Stocks
By: Money_and_Markets
Mike here with a quick update on the so-called "big rally" in bank stocks this week.
Yes, their shares have soared for the last two days.
And yes, Wall Street is cheering.
Read full article... Read full article...
Wednesday, July 09, 2008
Collapsing Bradford & Bingley Forced Bailout by Major UK Banks / Companies / Banking Stocks
By: Nadeem_Walayat
As I warned on 8th and 15th of June 2008, the problems for Bradford and Bingley and its rights issue cash call were far from over and that the bank was on the brink of a
Northern rockesque style collapse with the market now extremely reluctant to entertain cash calls from banks spiraling downwards towards ZERO. The last few trading days have seen Bradford and Bingley shares collapse straight through the 55p rights issue price trading down all the way to just 30p yesterday or 45% below the rights issue price. Read full article... Read full article...
Wednesday, July 09, 2008
Financial Stocks Meltdown: A Picture Worth 1,000 Words / Stock-Markets / Banking Stocks
By: Richard_Shaw
Who a few years ago would have thought FNM and FRE would lose 70+% and 80+% of their market value?
This chart comparing the S&P 500 (SPY), the S&P Financial Sector (XLE), the KBW Large Bank Index (KBE) with FRE and FNM is breathtaking.
Read full article... Read full article...
Saturday, July 05, 2008
Banking Stocks Still Not a Buy, Heading for New Lows Into August / Companies / Banking Stocks
By: Donald_W_Dony
The unprecedented decline in global financials, since early 2007, has most investors wondering when the bottom will arrive. Many world financial indexes are now sitting on half of their value from 18 months ago. Attractive fundamental valuation levels, provided by many analysts, have proven to be of little consequence since stocks have continued to waterfall 20%-40% below those 'attractive levels' and show no signs of stopping. But as many financial indexes plunge to the same levels as the 2002 bear market lows, the big question remains; when will the banks stop their fall? Read full article... Read full article...
Sunday, June 08, 2008
Bradford & Bingley's Dream Turns Into a Mortgage Default Nightmare / Companies / Banking Stocks
By: Nadeem_Walayat
The credit crisis continues to hit Bradford & Bingley bank that has heavy exposure to the speculative buy to let mortgage market. The bank ran a string of glossy, visually appealing TV adverts shortly following the spectacular Northern Rock collapse last September, the management tried their hardest to give assurance to the public that it was a case of business as usual for B&B. Despite many signs at the time that the number 2 slot after Northern Rock for credit crisis and housing market risk woes was reserved for Bradford & Bingley. Read full article... Read full article...
Monday, June 02, 2008
Bradford and Bingley- Another Bank Cracks Under Credit Crunch Pressure / Companies / Banking Stocks
By: Nadeem_Walayat
The Bradford and Bingley, Britain's biggest buy to let mortgage lender is expected to announce another profits warning later today as its Chief Executive abandoned the sinking ship ahead of a £300 million originally heavily discounted rights issue at 82p, which given Friday's close of 86p and today's expected price slump looks increasingly vulnerable.
Way back in August 2007, well before the credit crisis broke across the mainstream media, I specifically warned of three mortgage banks that are especially vulnerable during the next housing bust Of the three the first one to go was Northern Rock in spectacular style and much earlier than one could have imagined during Sept 07, by way of the first run on a British bank in 150 years. The Government eventually did another u-turn by nationalising the bank in January 08.
Read full article... Read full article...
Friday, May 30, 2008
Banking Stocks Pointing to Initial stages of long-term Bottoming Process / Stock-Markets / Banking Stocks
By: Prieur_du_Plessis
Global stock markets topped out on the back of the sub-prime/credit debacle in October 2007. Prices subsequently moved lower until reaching climatic bottoms in January/March this year, triggering rallies throughout the world until a few days ago. The big question investors are grappling with at this stage is whether the rise in prices has simply been a bear market rally, or whether we are back in a primary bull market. Read full article... Read full article...
Friday, May 09, 2008
The Falling US Dollar is No Friend to the US Financials / Stock-Markets / Banking Stocks
By: Donald_W_Dony
The affects of the declining U.S. currency goes beyond simply providing inflationary pressures, stronger foreign currencies and high gold prices, it also has a direct impact on how portfolios should be weighted. Since the beginning of the waterfall drop of the world's reserve currency, funds have rotated into energy stocks and out of financials. And this action is never favourable for the S&P 500. Read full article... Read full article...
Thursday, May 01, 2008
Financial Stocks Break Out / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
This morning the Financial Select SPDR (AMEX: XLF) broke out of a 6-week bullish coil pattern that represents the digestion period after the initial upmove from the 3/17 low at 22.1 to the 3/24 high at 27.37 (+23%). With today's surge out of the coil, the XLF has started a new upleg that should propel the financial index towards a test of resistance at 27.80-28.00 next, on the way to an optimal target zone of 29.50. Only a break below 26.40 will wreck the developing upside follow-through from the March low. Read full article... Read full article...
Thursday, April 10, 2008
Bottom for the Banking and Financial Stocks? / Stock-Markets / Banking Stocks
By: Hans_Wagner
Investors who regularly beat the market are always careful not to jump into a sector to early. In the last few weeks there has been unprecedented action in the financial markets as several banks have received infusions of capital to help them cover their significant credit losses. Last month the Fed lowered the Fed Funds and Discount rate, increasing the slope of the yield curve which should help banks. They also opened its lending window to investment banks giving them a new, stable source of funding. Then the regulators allowed Fannie Mae and Freddie Mac to boost their investments in U.S. mortgages by $200 billion, trying to give the mortgage market a boost. Read full article... Read full article...
Saturday, March 22, 2008
Will Citibank Survive? / Companies / Banking Stocks
By: James_Turk
The center of focus this past week on Wall Street – and indeed, much of the financial world – was whether or not Bear Stearns will go belly-up. As questions arose about the quality of its $395 billion of assets that were carried on only $12 billion of equity, its customers and other brokers became unwilling to accept the counterparty risk that arises from transacting with Bear, while its lenders began worrying about repayment. Being leveraged to that extent, even a small decline in the value of its assets can significantly erode the firm's equity base. But given that Bear is no more than the fifth largest broker in the US , it is a relatively small fish in the financial world. Read full article... Read full article...
Monday, March 17, 2008
UK Mortgage and Commercial Banks Decimated by Bear Stearns Bust / Companies / Banking Stocks
By: Nadeem_Walayat
Panic selling of the financial sector gripped the stock market today following news of the bailout of Bear Stearns over the weekend. The FTSE ended the day down over 200 points. The banks hit the hardest were the mortgage banks followed closely by those with large mortgage backed bonds and derivatives exposure as the deleveraging of the $500 trillion market continues. The Bank of England stepped in to provide emergency lending of £5 billion which was oversubscribed by more than 5 times, and indication of the desperate state of the UK banks. Read full article... Read full article...
Thursday, March 13, 2008
Financial Stocks Retest of Lows Looks Bullish / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Deep retest of Monday's low or another tease? Technically I have lots of indicators telling me it is the former and that the Financial Selecct SPDR (AMEX: XLF) is now in the early stages of revisiting Monday's high at 25.91 on the way to 26.50 thereafter.Read full article... Read full article...
Tuesday, February 26, 2008
Financial Stocks Gaining Upside Momentum / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
The Financial Select SPDR (AMEX: XLF) is gaining some upside strength as it emerges from its 3-week sideways but base-link congestion area that projects a measured upside follow-through towards the 28.50 target zone. A climb above 27.50 should trigger upside acceleration. Only a decline that breaks 27.00 will begin to compromise the developing upside breakout.Read full article... Read full article...
Wednesday, February 20, 2008
Financial Stocks Make Tradeable Low / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Judging by the improving technical condition of some of the members of the Financial Select Sector SPDR (AMEX: XLF), such as Bank of America (NYSE: BAC), Citigroup (NYSE: C), AIG, GS, and MS, perhaps this morning's low at 26.20 will suffice as the third such low of a near-term triple bottom completion of the pullback off of the Feb 1 high at 30.00? If that proves to be accurate, then confirmation that a significant corrective low has been established will come only upon a hurdle of the key Feb down trendline resistance now at 27.00. Until then, I only have indications that a tradable low is in place.Read full article... Read full article...
Wednesday, February 13, 2008
Pullback in Financial Stocks Appears Complete / Stock-Markets / Banking Stocks
By: Mike_Paulenoff
Now for a look at Financial Select SPDR (AMEX: XLF), which technically indicates that we should expect renewed price recovery. Components Bank of America (NYSE: BAC), JP Morgan (NYSE: JPM) and Wells Fargo (NYSE: WFC) all exhibit similar chart structures that argue for higher prices in the financial sector.Read full article... Read full article...
Thursday, February 07, 2008
Financial Service Shares Turned Significantly Lower Today / Stock-Markets / Banking Stocks
By: Richard_Gorton
Shares Of Investment Risk Manager Blackrock Fall Significantly Lower
Blackrock, BLK, is one of wall street's premier risk management and financial services companies with over 1.3 trillion dollars in assets under management.
Blackrock turned much lower, in late afternoon trading, falling 2.42%.
Read full article... Read full article...
Sunday, February 03, 2008
Looking Past the Current Stock Market Crisis for Strong Financial's / Stock-Markets / Banking Stocks
By: Roger_Conrad
The news keeps getting more disturbing for America's financial system. Just minutes after the US Federal Reserve slashed rates by half a point this week, the market turned its focus to an announcement by Fitch that it was slashing ratings of major bond insurance group Financial Guaranty Insurance Company (FGIC), triggering fears that it had others in its sights as well. That was compounded by the horrific fourth quarter earnings turned in by rival insurer MBIA, which was forced to defend itself against rumors that it could be headed toward insolvency.
Read full article... Read full article...
Saturday, January 19, 2008
Financial Sector Crash Continues with Gigantic Bad Debt Write-downs / Stock-Markets / Banking Stocks
By: Money_and_Markets
Mike Larson writes: The stock market is in a state of near-panic. The Dow tanked another 307 points yesterday, continuing a string of triple-digit declines that have marred the new year. The latest action is proof positive that the credit problems that began in the housing and home mortgage market are spreading out in concentric circles.
They're forcing builders to cut back furiously on home construction. They're causing companies to slash jobs. They're weakening the broader economy, helping drive losses on credit cards, auto loans, and other products higher.
Read full article... Read full article...
Friday, January 18, 2008
Northern Rock Bank Bust and the UK Mortgage Banking Sector Crash / Companies / Banking Stocks
By: Adrian_Ash
"...All investing is risky – all the way down to zero. And if government steps in to bail out a business, it should've gone to the wall in the first place..."
JUST IN CASE YOU'D forgotten – or you've set up a hedge fund in London lately – shareholders come last in line when a listed company goes bust.
Read full article... Read full article...
Tuesday, January 15, 2008
CitiGroup $10 billion Devastating Quarterly loss - Still Just Tip of the Bad Debts Iceberg! / Companies / Banking Stocks
By: Nadeem_Walayat
Citigroup the United States second largest bank posted a record quarterly loss of $10 billion due to the continuing fall out from the subprime mortgage crisis that continues to depress US housing market as Adjustable Rate mortgages adjust to higher interest rates.Read full article... Read full article...
Tuesday, January 15, 2008
Citigroup Results To Coincide with Major Upside Reversal - Buyers Will Prevail / Companies / Banking Stocks
By: Mike_Paulenoff
Tuesday morning ahead of the open, Citigroup (C) reports earnings, which needless to say, could be problematic for the company, the financial sector, and for the entire market.
On the other hand, based purely on my technical work, C is at or is very
near to a major upside pivot reversal from within the 26.00-28.00 price
zone. The bank will have to produce disastrous results acutely worse than
the write-downs and losses currently built into the price. When I juxtapose
the chart of C with the pending news, my conclusion is that a falling price
from here will be subject to the "beachball effect," which means that a
negative price reaction will not be able to be sustained -- and the buyers
will prevail (from 26.00-28.00 area).
Thursday, January 10, 2008
Banking Index Sounding Stock Market Alarm Bells / Stock-Markets / Banking Stocks
By: Marty_Chenard
Too often, investors only look at the short and medium term trends in the markets. When we have had a year with exceptionally damaging sub-prime problems, it is time to step back and look at 5+ and 15+ year views. It is only the longer term views that can give you a clear picture of how much damage has been done.
Today, we will look at 6 and 16 year views of the Banking Index ... symbol: BKX.
Read full article... Read full article...
Monday, December 10, 2007
Time to Buy Banking and Financial Stocks? / Companies / Banking Stocks
By: David_Shvartsman
Looking over the news this morning, it seems the big story in the US market is an $11.5 billion "capital injection" for subprime-beleaguered bank UBS.Read full article... Read full article...
Wednesday, November 21, 2007
Paragon Buy to Let Mortgage Lender Crashes 40% On Credit Crunch / Companies / Banking Stocks
By: Nadeem_Walayat
Paragon , Britian's third largest buy to let mortgage financing company crashed 40% yesterday and appears to be following a similar path to Northern Rock Bank. Both financial institutions relied heavily on the credit markets to finance loans to mortgage borrowers and both have been hit by the credit crunch. However not being a bank with no customer base, Paragon appears did not go the whole hock down the short-term funding route as Northern Rock and hence has managed to stumble along until yesterday.Read full article... Read full article...
Tuesday, November 20, 2007
Financially Heavy FTSE 100 Index Trading Cycle Heading Lower Into 2008 / Stock-Markets / Banking Stocks
By: Donald_W_Dony
Weakness Continues For Global Financial's: The on going downward pressure being felt by global financial's appears to have more pain ahead before stability begins to develop. The credit and mortgage crisis that started in the U.S.A has quickly expanded to financial centres around the world. The S&P Global Financial Index ETF (Symbol IXG) continues to waterfall from the May 2007 peak with no clear evidence of support. Read full article... Read full article...
Monday, November 19, 2007
Banking Stocks - Is It Time To Buy? / Companies / Banking Stocks
By: Nadeem_Walayat
Having warned of the problems facing UK banks back in August and specifically that by Northern Rock Bank, followed by subsequent commentary warning of the continuing crash in the finance sector. Now the sell off of all and sundry may present long-term opportunities in the hard hit sector.Read full article... Read full article...
Tuesday, August 14, 2007
MPTrader - Citigroup Should Hold Here for a Rally / Companies / Banking Stocks
By: Mike_Paulenoff
Either today's swoon in Citigroup (NYSE: C) is a retest (so far successful) of the August 6 low at 45.02 or the continuation of a new downleg that started at the establishment of the August 8 rally peak at 49.88. If it turns out to be the former, then C should pivot to the upside with some power in an effort to re-probe resistance at 49-50.Read full article... Read full article...