Another vote for twist but not QE3 http://soberlook.com/2012/06/credit-growth-in-us-may-keep-fed-from.html Maybe what traders really want is to have QE3 available as a future electric blanket anyway...
The elements of risk can be cut down by waiting for greater evidence that the turnaround is working. There will be a cost in terms of price paid per share(The stock will gap up) but the difference between the fair value of the stock and the price after the gap will still be large due a number of reasons CDS is above 700 so yes there is risk but its seems quite overplayed by the media frenzy
Pretty much all of the mortgage REITs have declared Q2 divvies. No cuts and a few hikes ... ATMs. NLY still the most conservative of the bunch. For those that want more aggression, try AGNC. Not an owner myself anymore, but Kain is a badass.
CNBC reports JPM sold 60% of the position. Dimon reports they will make a profit this quarter. Surprise surprise, panicky investors were wrong
If the $2B loss has some massive volcker implications then ALL big bank stocks should have collapsed. That didn't happen. JPM XLF spread collapsed, incorrectly due this just being a one time hit to earnings. Heck, this loss will just help them not to get complacent for another few years
Even after a big bounce, the shares remain well lower than the level they were at. Those who sold the news (and maybe bought back later) were absolutely right. Listen, be a douchebag to me - I really don't care - but stop being such a prick to the rest of the population.
*Long bonds breaking down today (10yr, 30yr) *Spanish bond yields biggest one-day dive since December * GLD, GDX selling off / looking like shite again Unless the Fed does something way out of line w/ expectations, broad message seems to be Europe is going back to boring (deeply problematic but contained), fear trade is subsiding, and full blown QE3 will have to wait for more serious deterioration of US economy, implying short to medium term blah-to-up scenario for equities and negative for precious metals. No positions at moment, but I'm guessing we'll have a chance to buy gold / gold stocks at much more attractive prices within the next few months. Not really interested in shorting, though, b/c of outside chances European shit hits the fan again.
Interesting theory from a JCP investor: http://www.minyanville.com/trading-...?camp=newsletter&medium=email&from=recapemail Mainly that Francis got booted not b/c Johnson needed a scapegoat, but because Francis recognized that the new strategy is fucked, tried to go back to the tried and true, and Johnson decided it was mutiny. Captain sounds determined to go down with the ship, er, strategy. Because his AAPL experience is so relevant to JCP.
Ok. So JPM is back down again today. Does that make all those who are not you right again? I'm losing track.