The Banks Are Getting Killed
As we all know, the housing market is driving everything in this bust. And the financials, as the source of all the financing for the housing market, have borne the brunt of the pain and have led the entire stock…
Financials Less Interesting After Big Pop
I’ve been getting a lot of e-mails and compliments since my post from Tuesday afternoon “Today Is The Bottom In The Financials” proved to be right on. So I thought it would be useful to update my outlook. Since then,…
eBay Is A Bargain At These Prices
The number that I and everyone else will be focusing on is the GMV number, which was disappointing with only 8% growth. – John Aiken (subscription required), Analyst, Majestic Research eBay (EBAY) reported 2nd quarter earnings after the close yesterday (EBAY Earnings…
SEC Tries To Intimidate Short Sellers
What do I think is really going on here? I think that regulators are very, very concerned about the collapse of the stocks of major US financial institutions and are grasping at straws as to what to do about it….
Intel 2Q Solid As Usual
Intel had another strong quarter with revenue at the high end of expectations and earnings up substantially year over year. As we enter the second half, demand remains strong for our microprocessor and chipset products in all segments and all…
Today Is The Bottom In The Financials
One thing that’s essential is enormous volume. With gigantic volume you can read the markets true opinion – we will need outsize volumes to be able to say ‘Okay, the bottoming or topping has occurred’. It won’t be the end…
IndyMac Depositors Line Up To Get Their Money
In a modern financial system, nothing is more frightening than a run on the bank. – Tom Petruno, “When faith is frayed”, July 12, 2008, LA Times As most of you know by now, the Federal Government closed and siezed…
Why I Bought Financials Today
If you’re going to be a trader, and you don’t have to be and trading is not the core of what I do, at some point you have to pull the trigger. We always want that perfect, can’t lose, super…
Too Big To Fail
The access to credit via the Treasury and Fed means the implicit guarantee on the GSEs’ debt is now explicit. – Ian Shepherdson (subscription required), Chief US Economist, High Frequency Economics Capitalism without failure is like religion without sin. – Allan…
The Current Leaders Will Be Taken Out Back And Shot Before It’s Over
Sooner or later in a bear market, even the glory stocks start to come apart. As a bull market ages and becomes a bear market, stock groups turn down one by one, until even the strongest roll over. That may…