Where you going to put those profits, you might look at NYCB it's paying over 5%! ;-)
I've held this stock for a long time & collected the divy & reinvested them I have no interest in scalpng for a couple of points if the correction even occurs. Long term capital gains rule. Compound interest rules. And ultimately this stock's destiny is into the high 20's.
Up 3 percent today to $36, in pat due to acquisition of Direct TV. But NYCB has moved up well also since this thread was initiated. Well yields are now 5.20 % for T and 5.36% for NYCB so both have seen good share appreciation to lower their yields from 5.8%, and T has done a bit better.
From July 2011 to July 2013, NYCB did essentially nothing (exclusive of dividends), while the financial sector as measured by VFH rose 50%. In the very short term, NYCB has risen noticeably, and faster than the financial sector overally, but this is largely due IMHO to the anticipation of a steepening of the interest rate curves which affect regional banks more than other financial institutions.
So, while there are some headwinds (e.g., will fed action be delayed until 2016? will the economy slow and reduce new commercial real estate activity?), I don't see this stock as hugely overbought.
To see an example of a hugely overbought stock, look at a chart of AMBA going into last week!
474m messages Very few correct ones Try holding your breath until you get two in a row correct There is still some of the alphabet you havnt used.. Was 16000 Banks NOW down to 7000 GOING to 4000 at most and NYCB will be there in some fashion a pristine balance sheet great management Good future plan
Of course you are making reference to interest rate spreads and the Bank's earning can be very much affected by those stats...however we have moved too high on a relative value basis(s)...so well I am happy with nice long-term profits and will seek to return at lower prices....GLTA...a new entry buying area might be in the mid-high $15's...or very low $16's...yes-I know it's counter-intuitive...but these markets are nothing-if not so! :-)
The BOND AMRKET says you are wrong.
It is all bout the gap between the short and long term bonds
Hmm....i am in a bit over $14.00 for about 4 years...good time to take profits! Thanks! Will do around the open tomorrow!
Shares of NYCB temporarily touched over 77 on the RSI today...in or beyond Nosebleed territory, etc. Look forward for this rally is or has ended with a spectacular rise destined to be corrected back to about $125.50 to $16.00 within the next 6-10 -12 weeks....GLTA! Watch out below!
Sentiment: Strong Sell
Ha! I was almost more comfortable with the $13' and $14's and still collect that $1.00 Divvy year after year yes I have held for several years...guess my average is in the $12's or low $13's...it's just now too that the actual fed-rates may really start to become more normalized...I have thought privately that these shares could rise to $22-$24. dollars a share and likely be acquired within the next 1-3 years by a much larger financial concern. I am with you on the no-trade ideas...i have rarely made any money trading stocks! Thank's 4 your reply and comments too!
If you've held this for as long as I have as the share price went nowhere, it certainly doesn't make sense to start trading it now. This thing could ultimately run much higher along with several of the other regional banks.
Tough call with the RSI at a very elevated '74' but that having been said any actual Fed-Rate_increases....will give this bank's SP a likely further boost....except for the fact of the 'Sell on News-Adage' !!!