Jump to content

If JP Morgan Was Alive Today, He Would Have Said 4/14/21

Rate this topic


Recommended Posts

I had a buy signal on IWM a few days back. Went long several times yesterday and the day before, but got shook out every time when s-port was repeatedly violated. 

O ye of little faith. 

That would be me. 

Link to post
Share on other sites
  • Replies 28
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Covered my NQ short once it hit the midpoint line. Ordinarily I might try a small long here to see if we get a bit of a bounce, but--well, cowardice I guess. I didn't expect it to get down there quite so soon today, but there we are. Since I can't decide whether to be long or short at the moment, I'm going to pack it in for the day. If I make any trades from here, the odds go up that I will screw it up.

Hasta mañana! Keep 'em down! 

Screen Shot 2021-04-14 at 9.12.53 AM.png

Link to post
Share on other sites

So now that the banks are reducing loan loss reserves, everything is great again? Are people actually paying down debt or has the relief from the government only kicked the can down the road?

Link to post
Share on other sites

5 day cycle projection 4117. 

This message has been brought to you by Channeling Stocks Dot Com!

Channeling Stocks Dot Com!

tvc_a32f9889406721a11a237effaf59b7f0.png

Link to post
Share on other sites

Lee appreciate  the comments. to gameblazer on twitter. I would like him to engage the conversation because his view is banks are in a great position and there is no liquidity concerns.

Link to post
Share on other sites

Might be true of most banks. I don't know. We need to differentiate between banks, of which there are thousands, and Primary Dealers, of which there are 24. And GS made a ton of money last quarter. So I have to conclude that they were well positioned and well hedged. I'd deduce that other PDs are even worse off than it would appear, unless they are generating so much profit from their other lines. Which I doubt. We already know that 6 of them shit their pants in this Archie Goes thing.  

Link to post
Share on other sites
34 minutes ago, DrStool said:

Might be true of most banks. I don't know. We need to differentiate between banks, of which there are thousands, and Primary Dealers, of which there are 24. And GS made a ton of money last quarter. So I have to conclude that they were well positioned and well hedged. I'd deduce that other PDs are even worse off than it would appear, unless they are generating so much profit from their other lines. Which I doubt. We already know that 6 of them shit their pants in this Archie Goes thing.  

He certainly has an understanding of the banks. However, constantly quoting regulatory rules as a way of explaining market operations is truly not the same thing and becomes very confusing. This is where your analysis shines. It pokes through the BS correlates actual market conditions to why the Fed is doing what it does.

Link to post
Share on other sites

I look at banking indicators regularly, but they're secondary to the Fed's trading with Primary Dealers. That's what moves the market.

I also believe that at some point, it is possible this shit will stop working for them. It requires the cooperation of the dealers, and the time could come where the dealers are either unable or unwilling to do so. That would end the Primary Dealer system, and there's nothing to replace it.  Would the Fed then become the market maker of last resort? 

More likely, the Fed will operate them as corporate owned stores, rather than the current franchisees that the are. The public doesn't know the difference. When you buy a hamburger at McDonalds, do you ever stop to check if you are in a franchise or a company owned location?

😄

Link to post
Share on other sites

If ever there was an event which would signify the end of an era or even an age then Madoff's death would make for a perfect moment for a long term top.  Sadly perfect stories rarely occur in the real world.  I suppose we can view today's red bar as just a tiny little sparkler to mark the occasion of his death. Certainly he deserves a high rank among  histories greatest conmen. 

Link to post
Share on other sites
Guest
This topic is now closed to further replies.
  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    No registered users viewing this page.

  • ×
    • Create New...