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I think it will be Red Friday and for weeks to come........
The current rally in the S&P 500 - up about one third since its low in early March – is forcing investors big and small to take a position about the bullish market prospects going forward. Standing on the sidelines is no longer the safest option for investors. The possibility of a v-shaped market recovery makes equities the party that no one will want to miss.
Or at least that’s what the most optimistic bulls. But investors should be more cautious – the bull argument for U.S. stocks needs to be more convincing. Stock Trends always takes a more long-term view of the market movements, and has yet to categorize a major market index as bullish.
EOD fin sell off
Looks like the DOW might crash here
Markets will be RED again Fri for sure carring out for the week after IMO
IMO DOW -240 today????? 2 more days of red coming up
Smartest guys in the room...just like ENRON
After Hours
Last: $ 5.11 After Hours
High: $ 5.14
After Hours
Volume: 2,751,464 After Hours
Low: $ 5.04
BAnKS getting hammered now looking for 10%- today on most
Here comes the Fin dump after lunch......
Yup, could just be my broker but took over 4 mins
I am looking for $12 +
yhea but were gonna hit a 2 on the river and a 2 on the turn
Just picked up 2K more here took a while to fill at market????
That was a future prediction....after $8 we'll make the call.....geesh its monday morning cut me some slack...
Yup , Big money left last week look at the money flow....now the bank bag holders are left and we should get a week long run here
Unbelievable eh! ahh well, lets see if it turns down after lunch
This house of cards has to fall soon!
Best of luck to you too!
Thats a play but I think its a hold for the short term here as you will be buying higher everyday..
Disagree this is going higher in the days to come...EOD should be real good
Here comes the CLIFF........BAC flirting with RED
I predicted Dow 8290 and FAz 6.90 EOD like your thinkin'
Same here 10K at .38, but been playing it for moths been real good to me
FTWR yup, and check out there fin's reporting tommorow should be good
LOL... 8290 big typo
DOW 4290 today FAZ $6.90 today IMO
Get back in Good....i think we see a week of movement
We'll see, i think 8500 (DOW)was the high its going to head back down now for a week or so IMO and banks will follow more heavily...time will tell just IMO
No way time to go back up now banks will tank today
Capital Roundup: BofA, Citi, Wells, Regions, GMAC Need Funds
15:43 EDT Wednesday, May 06, 2009
NEW YORK -(Dow Jones)- Bank of America Corp. (BAC), Citigroup Inc. (C) and Wells Fargo & Co. (WFC) were among a number of large U.S. banks that need to raise more capital after the completion of the government's stress tests, according to people familiar with the matter and reports.
The government began informing the 19 banks tested by the government late Tuesday about how much fresh capital they need to withstand the economic downturn. The Federal Reserve is expected to release the full report on Thursday after the stock market closes.
It is expected that 10 of the banks that were tested may need capital. JPMorgan Chase & Co. (JPM), American Express Co. (AXP), Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and Bank of New York Mellon Corp. (BK) will not need to raise more money to shore up their balance sheets, according to people familiar with the matter and reports.
BofA needs nearly $34 billion of capital to survive a worsening recession, according to people familiar with the matter. The Charlotte-based bank received $45 billion in capital from the federal government under the Troubled Asset Relief Program, or TARP.
Citi, one of the hardest hit U.S. banks since the credit crisis peaked last October, will have to raise between $5 billion to $10 billion in extra capital, according to reports. The move could decrease the government's stake in Citi, which is expected to be about 36% when its preferred shares are converted to common stock. The New York-based bank also received $45 billion in TARP funds.
Wells Fargo needs $15 billion, according to reports. The San Francisco-based bank received $25 billion from the government.
And Regions Financial Corp. (RFC) is also expected to need more capital, according to a person familiar with the matter.
Analysts believe other banks that may need capital include Fifth Third Bancorp (FITB), KeyCorp (KEY), PNC Financial Services Group Inc. (PNC) and SunTrust Banks Inc. (STI).
The tests weren't restricted to traditional banks. GMAC LLC may have to raise as much as $11.5 billion of additional capital, according to news reports. However, MetLife Inc. (MET) isn't expected to need more capital, according to reports.
They are running for the door on bank stocks now......
UP from here as the Dow tanks
If were guessing at the top I say today 8500 was it....we'll see
GSAT +$1 today????
Initiate bank sell off -2 mins.........tick tock
Yup banks will sell off EOD..this will rise!
Let the Fin sell off begin...watch the mad rush to the door here EOD
FTWR nice big buys