iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,230 Blog Posts

$GS, $BAC Post Better Than Expected Results; Banks Rally

You can get the details elsewhere. Just know that both BAC and GS bet numbers and are rallying in the pre-market. In the BAC notes, they cited credit quality as being very good, showing no signs of a recession on the horizon. I suppose this is the sort of side note that gets lost in the shuffle, but could be of extreme value for people paying attention.

Futures are marginally higher, but the market has a positive vibe to it, barring the minor decline in WTI in the pre-market.

Bonds are selling off and Fiserv just bought FDC for $22 billion.

It appears stocks will continue jogging higher. Time to cover those shorts.

 

 

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7 comments

  1. tjnyt

    I was up just 2% yesterday due to weakness in semis, today my gs, ms and wfc calls .. who knows. I will be selling all and adding to a tiny short position.( labd, sp puts).

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  2. tjnyt

    since the low before christmas i have been up every day except last Friday (jan11).

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  3. edge

    UVXY down just 1%. Vix hanging in there.
    No recession says GS…the world is weak and the shutdown is lopping off growth. Quickly.
    I’m easily net long but warning signs are there.

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  4. tjnyt

    sold banks too early. everything is well orchestrated. they wanted banks to go up, pull oil and semis down, keep index from rocketing up.

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  5. tjnyt

    GS is most hated bank presently, so many shorted, so they opened higher, and kept pushing to kill all shorts. my bad, sold early fearing a P&D. i think this the bang i was waiting for? sold ge, wdc,wb,gush.

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