JPM Warns Big Miss Just After Close

Discussion in 'Trading' started by waggie945, Sep 17, 2002.

  1. Current earnings are going to be "significantly" lower than previous quarter, and credit costs are now running at $1.5 billion vs about $300 million previous.
  2. Sh#t, that and the Oracle thing. Things will be very red tomorrow.
    I can't believe I didn't short ORCL for a hedge. I was staring at it hhovering around 9 before the close and almost clicked the button.... :)
  3. m22au


    Not to mention its huge derivatives problem
  4. Minime


    Maybe that partly explains the bearish day. Must be something going on thats not in the news yet. Reversal day on Friday, reluctant rally on Monday with Gap up this morning. There was plenty of buying support midday, but selling overwhelmed it. I wouldn't want to be long from here.
  5. JayS


    spoos down 8.00
  6. Spoos down hard.

    PPT must have been using loans from JPM to keep the market propped up all this time.

    Could get ugly ...

    Ps: Notice how the trend confirmed the news today. The big boys knew all along -- shows just how level the playing field really is.
  7. their loans to "cable and telecom" along with some pretty bad losses in their trading department.

    Consensus estimates were for .54 this quarter.
    Looks like they are going to miss this number by a COUNTRY MIIIILLLLLE.

  8. JayS


    JPM @ 19.50