Bank of America Corporation (NYSE:BAC)

Strategy Session September 14th, 2018

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  • BobbyG: $JPM $BAC bouncing off the 200 DMA. NP
  • Gary: ...
    $BAC – 200-day MA support.
    $XLY – hitting all time high.
    $XLP – bottoming.
    $XLV – getting bids
    $HUM -- $300 resistance.
    $UNH – breaking out at $250
    VIDEO TWO: Growth Stocks
    1. $TRHC – still going strong. He ...
  • Mickey: Mickey $bac going up......
  • baronp0329: 2 consecutive great trading weeks! Had good profits day-trading and swing trading. Thanks @Dan, @Bridget, and all the SMM and OMM Members for their posts. Stocks and ETFs: $OKTA, $HEAR, $CRC, $INTC, $GLNG, $CRC, $TWTR, $BYD, $P, $IWM, $FAS, $QQQ, $SPY Long/Short on Options: $TWTR, $GOOG, $AMZN, $BIDU, $NVDA, $DVMT, $NWL, $CPB, $BAC, $XLF, $KRE,$ IWM, $SPY, $QQQ, $IYT, Wishing y'all a safe and fun weekend.
  • Greendayguy: @baronp0329 $OKTA $HEAR $CRC $INTC $GLNG $TWTR $BYD $P $IWM $FAS $QQQ $SPY $GOOG $AMZN $BIDU $NVDA $DVMT $NWL $CPB $BAC $XLF $KRE $IYT You too, have a great weekend. I'm watching or own a lot of the same stocks that you reported on. Thanks for a good report!!!
  • etmagic: thoughts on $BAC?
  • champ: @etmagic $BAC--- Until we see what interest rates are going to do, the sector is dropping ...I sold $BAC and $WFC last week.
  • debeers: @champ $BAC $FAS $MU $WDC #Spec-Trading-Positions #Senate -adding to WDC at 85 and 82ish. NOT doing FAS--not now not ever. Just so you know, the custody banks will far outperform BAC.
  • champ: @debeers $BAC $FAS $MU $WDC #Spec-Trading-Positions #Senate --- On #Banks.... I'm seeing that this morning....this market turn is taking all the banks down this morning.
  • geotheo: @debeers $BAC $FAS $MU $WDC #Spec-Trading-Positions #Senate Since I had to look it up I thought I'd post:

    John Krowas, Investment management data wrangler, Caltech '93

    An interesting way of comparing regular banks and custody banks is thinking abo ...
  • DavidM: @geotheo $BAC $FAS $MU $WDC #Spec-Trading-Positions #Senate Interesting info. Thanks.
  • Forexpro: @geotheo $BAC $FAS $MU $WDC #Spec-Trading-Positions #Senate Thanks, Geotheo, One item of note is that as with most legacy banking product, sec lending has become far less profitable for the custodial banks than was the case back in the good ol' days. Once upon a time, the fee split was typically 80/20 in favor of the banks; now, the best the banks get in almost all cases is 50/50. As my last boss mournfully remarked on a daily basis when thinking about FX "This used to be such a great business." Yeah. Hope you're doing well; all the best!
  • champ: $WFC @ $55...still climbing off of the recent low... that was in May...big Conference on Thursday 5/24...I'm expecting this slow move to continue....first target is $60....earnings not until 7/13....could break thru that $60 level and run into earnings...$BAC is also moving-up...ER will be on 7/16....banks should report strong numbers.
  • baronp0329: $BAC $XLF $FAS Financials looks good for further upside... "The U.S. House of Representatives is expected to vote today on a bill — which the Senate has already approved — that will loosen restrictions that were put in place in the wake of the Financial Crisis. The loosening of these restrictions will allow banks to make more money via prop trading, boosting earnings-per-share (EPS). " As of yesterday in trading account: Long BAC Jun 30 Calls Long XLF Jun 28 Calls Long FAS Long term account: Long BAC, $GS and $KRE
  • DAN: @baronp0329 $BAC $XLF $FAS $GS $KRE YEs, I think the bank stocks are going to move higher. There is an underlying bid on them all...and I like that. I see several members here chatting about the banks. Great job everyone. Many eyeballs see a lot of things. Of course, they all suck up a lot of Visine too. ;-)
  • champ: @baronp0329 $BAC $XLF $FAS $GS $KRE ---- I agree and I'm also in positions...$BAC $WFC and a small position with $FAS...but and I might add..
  • champ: $XLF ---- $BAC $WFC $FAS ---- The House will vote on the #Dodd-Frank-roll-backs on #Financial-Reform-Legislation later this afternoon or tonight....this bill has already passed the #Senate. This will be really positive for the #Banks, is why they were all up should pass. The WH, continues to work on many fronts, all at once to help the economy...all is positive for the Markets and could also help out the energy sector, many banking loans are in that sector. I'm holding these swing positions.
  • champ: $BAC and $FAS ---- I added to these positions in the AH's because I'm looking for a bounce in the #Spec-Trading-Positions. I took profits today, on my Oil ETF's and also on $MU and $WDC. Just moving some of these dollars, back-into the banking sector....putting these dollars back to work...because the news is... this Bill should pass, as expected because entries could be higher on the open, is my guess. For me, it is better now than later, if it passes....adding risk back into the markets...because the #Senate has already pass this Bill.
  • champ: @spmeyers $KRE #Breaking-News ---- I agree some are small but $KRE bounced $0.46 off of the closing price...already and will be even higher before the open and if you sell a 1000 shares RHRN, you will have a profit of around $450. Cocktail hour is go ...
  • Forexpro: Re: Yield Curve Good Morning, Friends, While not at "good" levels, the yield curve is steepening at the moment rather than flattening. This is a shorthand view - "2s-10s" - that is widely used as a proxy for curve movements. A wider differential is considered a positive backdrop for the banks. Some changes to the Volcker Rule are set to be made in coming days; rumor has it that the alterations will provide somewhat more flexibility to market-making banks, which should be positive for $GS and $JPM in particular, and helpful to a somewhat lesser degree for $BAC, $C and $MS. Best of luck today!
  • indigo1948: @Forexpro $WFC - Good morning - what is your sentiment as to stock movement for it? I see it at the 50 DMA on the daily and approaching the 200 DMA on the weekly. it appears to have been in a narrow channel since February to April downdraft but I have to believe this issue will only gain traction with continued overall market strength. $BAC is also sitting at the 50 DMA on the daily chart - could be interesting short term plays. All the best.
  • Forexpro: @indigo1948 $WFC $BAC

    Hey, Indigo1948,

    At the moment, the stock isn't highly correlated with either the $SPX (minus 0.26 for the rolling 20 period average) or the large-cap bank ETF, $VFH (0.45, ditto) which makes it tougher. The stock looks to me ...
  • baronp0329: @grcjr @traderben $ATVI $EA $TTWO I have ATVI stocks and June 70 calls bought 2 days ago. Also, keep an eye on financials. I added to my financials (stocks and options) at the open today $BAC $JPM $GS. They all look good today.
  • Wykeman: #financials breaking out..$BAC $RF $FAS own these, started $GS earlier today
  • phgruver: ...
    On top of the capital gains, I also book a nice steady flow of dividends. For example, I bought $AEP when utilities were out of favor in 2011. My average cost is $38.40, so I've got a pretty good unrealized capital gain (81%) the annual dividend o ...
  • JustJoe: Yesterday during the high I sold most of my LONGS: $ Newt, $NRZ, Sold all my TRADES: $TRHC, $WING. Today I played Dan's Day-Trade strategy today and made 1% $OLLI. Hitting singles and doubles is growing my account. THANK YOU DAN AND ALL THE ACTIVE POSTERS IN SMM. Only holding quarter positions in $BAC and $RTN. Mentally I need to occasionally get off the playing field now and then.
  • issues: Stopped out of $BAC & $MDT bought/added to $SHOP $W $GDI $BZUN & $LGIH. Charts tell the story. Of course stops were carefully placed on new additions.
  • rck89: @Forexpro $AAPL $SPY $WFC $JPM $BAC $VFH #FOMC Morning Forexpro - Thank you very much for your exceptional analysis on the prospects for $WFC. I read your analys a couple of times over the weekend and I now really understand that $WFC's outlook is going to be toxic for the foreseeable future. I'm sure Warren is probably buying on this weakness, but I'm out of this dog on its next uptick. Thanks again - really helpful comments!!!!
  • Forexpro: @rck89 $AAPL $SPY $WFC $JPM $BAC $VFH #FOMC Sorry, Rck89, If the sector does well, $WFC will also go up, and might even outperform for a brief spell, given how beaten down it is. It is now fighting in very competitive markets with a hand tied behind its back, and with a bullseye painted prominently on its backside. I obviously agree with the notion of dismounting gracefully. Best of luck with it!
  • Forexpro: ...
    Are there any business segments in which Wells has a leading presence, and few competitors? I can't think of any. Is there any reason for a retail bank customer, a small business owner, or a corporate CFO to do business with $WFC when there are bank ...
  • steve71: $WFC $BAC $JPM $MS $GS Wells is outperforming the other bigs. Up 5% since being fined ONLY $1B last week. This is likely the last big government action against Wells and removes an overhang. $WFC is cheaper than the other majors on most metrics. Opened a LTH position on Friday and will add to a close above 53.50
  • champ: @steve71 $WFC $BAC $JPM $MS $GS ---- I have a nice size swing position in $WFC...near the low.....I posted that this could be a #Spec-Bounce-Swing-Trade on 4/19.
  • Forexpro: ...
    Having to restate earnings is a really big deal. It happened once during my tenure at $STT, and the guy who was determined to have been responsible for the error was fired the same day the problem was uncovered. Ex-tax benefits, $WFC's earnings decl ...
  • champ: @Junior1 $SCHW --- Up around 11 days off the recent low....but it was actually 10 days off that low. The stock was moving with the market...on the 6th and on the 13th....both of those market drops, mess-up the move into earnings. $BAC also drop on th ...
  • champ: $BAC ---- Earnings look positive....earnings call starts in a few 8:30 ET....economy is on the move.
  • Gary: ...
    2. $BAC – earnings...and no reaction.
    3. $JPM – nobody’s buying.
    4. $CHRW – caught this in the morning on Bband pop. Resistance at $100. Good base forming...but I’m picky. Not a good entry here.
    5. $JBHT ...
  • Forexpro: ...
    With the earnings reports out of the way for $C, $GS and $JPM, it's going to take a lot from the remaining bulge bracket names (e.g. $BAC) to alter the new (more negative) narrative. Dan's right, and the summary stories that I've seen thus far this ...
  • champ: @Forexpro $C $GS $JPM $BAC $WFC $BK $STT $VFH $SPY $PNC---- On $GS, they have ...not reported earnings but they will on Tuesday morning...4/17, need to keep a Eye on them, along with $BAC. On $WFC, it has been a great trading stock, for me on my last ...
  • champ: $XLF ----- #MarketUncertainty played out today because of the #Weekend. $DJI @ 24,360 was only down 0.50% ..123 points not really all that bad, with all of the negative news and the noise that was going on today, you would think the markets would hav ...
  • Gary: ...
    4. $BAC
    5. $WFC
    6. $C
    7. $SPGI – Coiling along 50-day MA. Buyable a bit lower, with stop below $185.
    8. $AMTD
    9. $ETFC
    10. $IBKR
    1. $AMX – Alert $20
    2. $CAMT – very thin. VERY thin.
    3. $NFLX – Do not look for t ...
  • Forexpro: @bigbartabs Hey, Bigbartabs, Here's hoping that you're doing well, despite the sogginess. The yield curve has been flattening rather than steepening for most of the quarter, so I don't think that the FOMC's activities will have much direct impact. Indirectly, they've contributed to volatility, and my impression is that the best results are expected from the banks with the largest capital markets activities ($GS, $JPM, $BAC stand to benefit). I suspect that the lending side, and net interest margins, will be lackluster, at best. Still, I'm not an analyst, so these are, again, just impressions that could be disproven as quickly as tomorrow around this time. Take care, Amigo, and all the best!
  • champ: $BAC @ $30.70 ---- Sill zig-zagging....but the stock is now up about $2 off the recent low, I did get back in, a few days ago....and I'm swinging 2 full positions, earnings are before Monday's open 4/16....These banks are reporting earnings in the morning...$JPM $C and $WFC but I have NP.....could be others.
  • champ: @Vehid $VLO ---- All the refiners are doing really well...the spread is widening and they make $$$$ on the spread....Brent Oil $72.60 vs WTI Oil $66.68...appx ...these are the highest levels in 3 years....the Saudi's are trying to get Oil up to $80, is what I have been reading.....$XOM was upgraded by $BAC/Merrill Lynch to their U.S. #1 list.....there is news on $VLO also. LOL
  • Vehid: @champ $VLO $XOM $BAC #1 Yup. I had calls on VLO expired worthless and the rally started right after! ... happens
  • Forexpro: @Kai You're Welcome, Kai, Courtesy of the Treasury Department - our tax Dollars, at work - here's a picture of the curve from short to long end, today versus 5 years ago. As you can see, the earlier curve was markedly steeper, creating a more favorable lending environment for banks. The only benefit is that longer rates are now higher, so for those banks with large deposit bases that provide them with a lot of free funds - think $BAC, inter alia - things are arguably better now, but no bank only lends funds that it has on deposit in interest-free accounts. All the best!
  • DavidM: @Forexpro $BAC Apparently $BAC's naughty behavior does not end there. This is an interesting read:
  • Forexpro: @DavidM $BAC Thanks, DavidM, Yeah, I saw the original piece, and regretted that I wasn't one of the whistleblowers. On the plus side, I didn't have to share any gains with Labaton Sucharow. The article, however, is conflating two cases and implying that they're one. My understanding is that the whistleblower award was for information regarding gyrations prior to the Crisis, when the former Merrill was desperately trying to pretend that its foundation was resting on something other than quicksand. Hence, the urgency regarding ways of making its capital position look more robust than it was. As the spectacle of $LEH (RIP) demonstrated, a loss of confidence followed by a loss of access to short term funding is death for a leveraged institution, and at the time 30:1 wasn't unheard of. Hope you're well, and thriving; all the best!
  • Forexpro: @Forexpro $BAC

    Hi, Friends,

    When I first saw the capsule description of this case, I indicated that I was inclined to sympathize with BofA/ML. My suspicion was that the desk was conducting business in a way that was reasonable and customary at the ...
  • mopick: @Forexpro $PNC $STI $BAC $XLF, so, what you're saying in essence is that rising rates in general are NOT, per se, favorable for banks, right??
  • Forexpro: @mopick $PNC $STI $BAC $XLF

    Hi, Mopick,

    It's the shape of the curve that matters, not any individual rate. A rate hike from the Fed that isn't accompanied by higher rates at the longer end of the yield curve is just an incremental cost for banks. ...
  • Forexpro: Re: $BAC

    Hi, Friends,

    Not a huge fine, as these things go, but there will no doubt be private litigation/class action suits to follow. Transparency regarding routing of orders isn't something that most, if any, banks would have considered necessary ...
  • steve71: @Forexpro $BAC That $BAC pulled this nonsense is just incredible. Didn't they learn anything in the last ten years? Every bank CEO should have a desk plaque reading, "DON'T F*** UP".
  • champ: @Forexpro $BAC ---- It is just amazing, that with all of their so-called smart attorneys on staff, that they still don't have the proper disclaimers, it is hard to believe, that a financial institution can really be that stupid. How in the hell, could that have even happened, in times like this..maybe 25 years ago but now. Just saying...Take Care!
  • farview: @Forexpro $BAC Especially surprising their CEO Brian Thomas Moynihan is a Lawyer. You would think their legal department would not miss a trick!
  • champ: $BAC ....could turn...Spec Day Trade with stop around entry
  • champ: $BA and $BAC ....getting a small turn
  • Gary: ...
    $VIX—X – back up above 20 decisively!
    $DJI – Watch these major averages as they test the February lows.
    $MDY – topping pattern. Double top.
    $IWM – topping pattern. Double top.
    $COMPQX – decisive break below 50-d ...
  • Forexpro: ...
    In addition, when the FOMC does a rate hike, all other things being equal, banks get hurt. The short end of the yield curve, which is very responsive to changes in Fed policy (out to, say, the 2-year note) is where banks borrow. They do their busine ...
  • rachel: ...
    $BAC – Squeezing. Alert $32.85
    $FND – took some off today. Pretty extended here.
    $IPGP – Alert $256
    $OIH – still very early with energy. Not recommending this now...just recommending watching it.
    $XOP – still very early ...
  • grcjr: $BAC $GS $JPM $MS (but not $WFC which is down) - just sitting around. Even though it should be mostly baked in I suspect they are waiting for the fed.
  • champ: I posted news on the #FOMC-Interest-Rate Decision, that will be reported on Wednesday, with a News Conference after.....for those who would like to take a look. This is the most important #Economic news, that will be reported for the week. #Existing Home sales will also be reported on Wednesdays and #New Homes Sales for February will be reported on Friday 3/23....both of these reports are also important for the $XHB and $XLF sectors....and stocks like...$BAC $LGIH $LOW $HD and others... could move around a little and I'm expecting positive numbers....but that is just my guess, after doing research and I'm holding these stock positions.
  • spmeyers: @champ $XLF $BAC #FOMC-Interst-Rate-Decision #FOMC-Rate-Decision One would expect that medium size banks will benefit more from Dodd-Frank reform due to change in ceiling for many regs from $50 bn in assets to $250 bn. As for Powell, I'm pretty sure he will say same as Janet: it will depend on the data down the road
  • champ: @spmeyers $XLF $BAC #FOMC-Interst-Rate-Decision ---- That is what they are saying...and they are just saying that to justify, their reason for voting Yes, is #Political, many don't like the larger banks, everything was their fault but we know wh ...
  • champ: @Forexpro $SPY $VFH $PNC $STI $C $WFC #Banks --- On $BAC, the great add-on entry was 11/15, that I posted about and then on 2/9, again for whatever your bank stock is, for another add-on or entry. However, most miss entries but full-time traders/inve ...
  • champ: $XLF $BAC @ $32.17 ---- #FOMC-Interest-Rate-Decision --- @Dan was talking about banks....but what is going on with the Banks...??....investors are waiting for the #FOMC-Rate-Decision and that will be announced on Wednesday, at 14:00 ET and it is exp ...
  • grcjr: $BAC $JPM $GS inching up this morning. In middle of a still tightening VS. Earnings mid-April could give us a run up.
  • bigbartabs: @grcjr $BAC $JPM $GS ... I went to a full position in $FAS yesterday. Looks coiled to continue up. Good luck...
  • grcjr: $BAC $JPM - $BAC isone to watch. Currently in a 4% VS. Sitting on the 20dma. An ascending triangle. My normal indicators are largely neutral. Nice trend. Not far from new highs. I'm watching for a breakout above the upper BB on volume. $JPM similar in a 5% VS.
  • grcjr: @grcjr $BAC $JPM $GS - $GS not as strong a chart. Still interesting. In a 6% VS.
  • champ: $BAC HOD and a New 9-year high....#Day-8 off the most recent low....just slowly zig-zagging higher.
  • champ: $WFC @ $58.20 up $1.51 or 2.66% on Friday. #Day-3 of that New recent low, that could be the low risk trading entry. I have many post on this bank with info. Will this Bank be going higher, it should because all banks are on their highs or very ...
  • champ: @optionswealth ---- #AirlineSector ----- $UAL #is-a-stock-for-2018 ----- You ask me about a stock for 2018, that is not already on its high or highs...?? --- This is my answer.....Take a look at my post on $UAL yesterday....this stock is worth spendi ...
  • Forexpro: Re: Banks Hi, Friends, Of the "too big to fail" names, $BAC and $C are doing best on the day, along with trust banks (both also "too big to fail") $BK and $STT. Of the smaller names, old fave $SIVB (chart attached) is making parents proud and happy, as noted earlier by Woodman. Financials are performing well, over all, with $XLF trailing only $XLE among the major sector ETFs. All the best!
  • Spotdog: @Forexpro $BAC $C $BK $STT $SIVB $XLF $XLE Good morning Forexpro, A while back you posted a chart of some of the banks and noted that $BBT was at the top of the list. I picked some up at that time and it is still working. Thanks again.
  • champ: $WFC @ $57.50 --- This lagger is also moving up... #Day-3 bouncing off the low....I like this bank because it is ... the 3rd largest U.S. bank and the largest lender in many sector's, with 8,200 branches because it is at a low risk entry.....because of that reason... and that is the #main reason RHRN but there are many other reasons. However, I like most all the banks...and I'm also holding size in $BAC and I have positions now in $FAS and $KRE.
  • Forexpro: @Spotdog $BAC $C $BK $STT $SIVB $XLF $XLE $BBT Cool, Spotdog, I'm delighted that it's working. I'm still in it, and would, of course, love to see it break above the 56.21 level. Might be a bridge too far for today, but then again, why not? :) Hope you're doing well in general; all the best!
  • champ: $UAL @ $71.00 ---- #Airliners ---- This Is a very #StrongBuy going into the $JPM Aviation and Transportation Conference on Tuesday 3/13...the News is that today $JPM upgraded this stock, going into their #own conference and they said today that they ...
  • champ: #Banking news.... bipartisan legislation is expected to clear the Senate as soon as the today or the next few days on a Rollback Bill....banks will bounce on this upcoming news...and I'm holding $BAC and sold $WFC on the high turn but I'm like the low risk entry again....and I'm watching.
  • BobbyG: @champ $BAC $WFC #Banking Thanks for the update. Are you looking at regional banks at all ($KRE)?
  • champ: @BobbyG $BAC $WFC $KRE #Banking ---- Yes, I like all the banks...its just hard to know who will #OutPerform...thats why I'm looking at the lagger.
  • BobbyG: @champ $BAC $WFC $KRE #Banking #OutPerform Fair enough. In any case, I will probably rotate some cash into that sector in the coming days.
  • champ: @Forexpro $BAC $JPM $WFC $MS ---- I have not read any of that news. However, I have read the news on how strong $WFC is and is now even getting stronger, I have read. I have been following the FOMC banking news but it is still hard to believe every-t ...
  • baronp0329: @champ $SSO $TQQQ $LABU $BAC #BounceCandidate #Day-3 #12 #News - Thanks Champ. I did see your post regarding the market turn and doubled my $SPLX bought earlier in the morning. Closed the trade 20-30 minutes before the close. Resulted in a decent $2200 profit. Thanks again. Appreciate your posts.
  • champ: @baronp0329 $SSO $TQQQ $LABU $BAC $SPLX --- Good Work and Yes, you can make very large $$$$, if your ready with a game plan...daily... because you have to be ready for both.... the expected and also the unexpected and that is the Key, to unlocking the door for Profits and then you just walk in, if your stock and market #timing, is more or less around entry...ton the market turn.
  • TunaHelper: @champ $SSO $TQQQ $LABU $BAC $SPLX #timing Hi champ - always a big fan of your posts and very much appreciate them. Was there any news at 12:36pm that lead you to believe the turn was going to happen then - or was it something in the charts (e.g., price crossing a moving avg)? I am trying to learn if you saw the turn based on the chart or the news - or both. Thank you! -Tuna
  • TunaHelper: @champ $SSO $TQQQ $LABU $BAC #BounceCandidate #Day-3 #12 #News Hi champ - always a big fan of your posts and very much appreciate them. Was there any news at 12:36pm that lead you to believe the turn was going to happen then - or was it something in the charts (e.g., price crossing a moving avg)? I am trying to learn if you saw the turn based on the chart or the news - or both. Thank you! -Tuna
  • champ: DJI @ 24,802 --- I'm only swinging small Spec positions in $SSO and $TQQQ, took large profits on 90% on both and my full size on $LABU. Also took profits on all #BounceCandidate....spec day trades....with nice gains. #Day-4 on profits, for all of my ...
  • Forexpro: Re: Too Big to Fail Banks Hi, Friends, Attached is a chart of the largest banks from the close on Feb 8, which was at or close to the nadir for most if not all of these issues. I'm using the Vanguard Financial ETF as a benchmark, as its holdings are more representative of the peer group than are those of $KBE. $BAC has done best in the intervening days, although $GS, $JPM, $MS and $PNC have also been competitive. $C, $USB (which took a hit related to a client's money laundering) and $WFC (more issues than Sports Illustrated) are lagging. All the best!
  • debeers: @Forexpro $KBE $BAC $GS $JPM $MS $PNC $C $USB $WFC --- If i asked you who was your fave in this space would you favor me with a reply? All the best.
  • Forexpro: @debeers $KBE $BAC $GS $JPM $MS $PNC $C $USB $WFC

    Hey, DeBeers,

    Here's hoping that all is well with you. The answer depends a bit on whether you think that the Volcker Rule will be rolled back and, if so, whether trading will pick up. If that's th ...
  • debeers: @Forexpro $KBE $BAC $GS $JPM $MS $PNC $C $USB $WFC $VFH $BRK $AXP $DB $UBS $SIVB ---When I look around any room, you are 1 of the smartest guys there and, that having been said, the additional bonus is you are so nice and so kind.
  • Forexpro: Re: $BAC, $JPM, $WFC

    HI, Friends,

    Lions stalk the wounded gazelle; the WSJ ("Banks Wage Branch Warfare) notes that $BAC and $JPM, while reducing their branch count overall, plan to open hundreds in areas where $WFC has been strong. $MS analyst ...
  • Forexpro: @debeers $KBE $BAC $GS $JPM $MS $PNC $C $USB $WFC $VFH $BRK $AXP $DB $UBS $SIVB Thanks, Lady DeBeers, You're far too kind, I'm afraid. Thanks as well for your ongoing input and guidance. All the best!
  • champ: $BAC has now bounced a $1 off the low....still holding.
  • Forexpro: Re: $BPOP Hi, Friends, This bank covers Puerto Rico, the Caribbean (don't recall ever seeing a branch outside of the home island, though) and New York City. Retail, middle market business lending. I would have assumed that the bank's finances are a disaster, but they get "C" ratings. For purposes of comparison, $BAC gets a "C" grade for growth and financial health, a "B" for profitability. I was scanning through charts, and I had dismissed it when I first looked at it due to the large gap. Well, time and market action have done some work, and it's no longer as extended. I don't think that I'm inclined to do anything with it, but thought I'd mention it for a sort of "outside the box" (and, to some extent, the mainland) financial stock. All the best!
  • Gary: ...
    $JPM, $GS, etc.
    $KRE - regionals work too.
    $KEY - Alert $21.80
    $XBI - good consolidation now. Lots of potential. Non-protectionist sector.
    $XME - are the metal tariffs making a big difference in the metal stocks? Not really.
    $MG133 - not muc ...
  • sierramp: @Forexpro $BAC $AAPL $JPM $C When you have time would you please expand on this subject a bit for me? Are funding costs going up for the banks because they are losing a great source of corporate borrowers resulting in a lower net interest spread? Thank you.
  • Forexpro: @sierramp $BAC $AAPL $JPM $C Hey, Sierramp, Yup, that's it, in a nutshell. Lots of money - for example, $AAPL has reportedly been a huge buyer of short-term U.S. bank debt - that was available at low prices to the banks will now, presumably, be less money available at higher prices. The good news is that "long term loan" has become in many respects an oxymoron, but competition is always pretty intense, so there may be some diminution of net interest margin, especially in the near term. Nice summary. Hope you're doing well; all the best!
  • Forexpro: Re: Banks, $BAC

    Hi, Friends,

    One of those "unintended consequences" things, I suppose, and one that I hadn't given a moment's thought to. The Financial Times has an article that cites $BAC; the bank notes that its funding costs are rising ...
  • champ: @Forexpro $AAPL $LOW $SSO #E-MiniFutures --- The bottom line is....are you thinking that the markets could turn soon.... or even guessing, that would be just fine, for me...?? I noticed that $BAC, really acted extremely well, the last 2-days, this is confirming your posts and $BAC is my largest position, that I posted about... but I'm sorry to say, that I'm holding other positions. However, I'm looking for a turn, in the markets soon and as we all know, I'm only guessing.
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Stock Price $USD 31.03
Change -0.51%
Volume 85,830,800

Bank of America Corporation is a bank holding and a financial holding company. Through its subsidiaries, the Company provides banking and non-banking financial services and products throughout the United States and in selected international markets.

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