Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
LVLT closing gap. Could be a nice pick up soon EZ.
With ABK (0.92), the story will be in the news so I'm not worried. We needed a gap fill and we got it. I think this will be good in a couple of days. This did a healthy technical retrace.
ABK (0.92) could be a huge beneficiary according to this article just released:
NEW YORK -- The U.S. banking industry could lose as much as $120 billion from buying back troubled mortgage-backed securities, according to research prepared by J.P. Morgan.
This so-called put-back risk is the biggest mortgage issue facing banks, according to a research report sent to clients Friday by J.P. Morgan fixed-income strategists led by Ed Reardon and John Sim.
In recent weeks, large banks have been caught up in foreclosure documentation problems that have led some of the nation's biggest mortgage servicers to halt foreclosure proceedings broadly or even nationwide. Media reports and market analysts have "vastly overestimated the significance of many of these factors and the corresponding cost to the industry," the note said. "The potential cost to the banking industry of delays in the foreclosure process is likely to be minimal." The report said many of the problems "are process oriented and can be fixed in the near term."
The report said put-back losses for banks, however, could be significant. The report gave a "base" estimate of put-back costs at $55 billion, and said a "stress" level could reach $120 billion in total.
Put-back losses could range between $10billion-25 billion per year, but will likely be spread out over several years, the report said, "owing to the complexity and cost of implementing put-backs, especially in non-agency securitizations."
The report estimates put-back risk at $23 billion to $35 billion from agencies, $40 billion to $80 billion in non-agency mortgages, and $20 billion to $31 billion for second liens and home equity lines of credit.
Stocks of the biggest U.S. lenders traded higher Monday, taking back some of last week's losses, after Citigroup Inc. (C) reported stronger earnings than expected. Shares in Bank of America Corp. (BAC), the biggest mortgage lender, recently traded modestly up 0.1%, to $12.05. Stocks of other big mortgage lenders also rose. J.P Morgan Chase & Co. (JPM) shares gained 2.5%, to $38.07, and Wells Fargo & Co. (WFC) rose 4.9% to $24.75.
Shares tumbled last week as investors sought to understand potential costs of foreclosure moratoriums stemming from "robo-signed" foreclosure documents, in which bank employees signed hundreds of foreclosure documents a day without verifying their contents.
I also think that reverse split will be off the table which is big as well.
Well, the momentum is definitely there. I'm looking forward to it trading pennies and not sub pennies for sure. Chart wise I see 1.05 resistance and then 1.34 followed by 1.60 and 2 bucks. Once a dollar is breached and held it wild be a wild runner I think.
Yes Matt. Blowing up in AH now.
ABK SUPER CLOSE! This one is on a verge of mega explosion.
SHZ blowing up!
Good call buddy! that SHZ is looking tasty as well.
Low float. Could run here
SHZ gonna go
SHZ.Looking solid. Golden cross near.
Golden cross coming. Nice Volume!
FCEL. Flush it out and get it over with. Mid bollie at 1.14. Lets do it and move up!
Yes. I'd like to finally see this open up. Its been really stuck in this range.
FCEL. Would love for this to break over 1.20 today.
FCEL. I thought it held up very well today.
RPRX pretty nice close there.
Yes, we got some volume happening as well.
I'm seeing two big trades that went through on SOPW. 140k each. Are you seeing that?
Morning my friend. Yes, we're slowly starting to look good. I think 25s fall and we run for a bit!
Bids stacking on SOPW.
Looking pretty nice there!
Looks like we got that PSAR today mudturtle.
SOPW. PSAR flip today or tomorrow. This one will pop!
SOPW. PSAR flip today or tomorrow. This one will pop!
SOPW. PSAR flip today or tomorrow. This one will pop!
Just needs that final push to break out of these 24's and 25's...
SOPW (0.239).Volume and it goes. Chart looking very good.
SOPW (0.239).Volume and it goes
SOPW (0.239).Volume and it goes
chart set up nicely there. Just a little push past 24-25 and we go.
SOPW (0.239).Volume and it goes.
very nice gesture xela22. it is why this is the best board on IHUB, because of folks like you.
No problem.
Can you post a 60 min chart on SOPW please? Thanks! It looks good for a bounce.
MDW (0.548) bouncing nicely.
EZ, did you get my PM?
RPRX had that low volume dip. Nice chance to get in IMO.
"Orion Labor Day Contest Pick" SHZ $1.02