Close as of week ending 3/4/2011 Opinion: Go LONG Caution; stock is moving against Opinion. Moving Average Convergence/Divergence (MACD) indicates a Bullish Trend. Chart pattern indicates a Possible Trend Reversal. Relative Strength is Bullish. Up/Down volume pattern indicates that the stock is under Accumulation. The 50 day Moving Average is rising which is Bullish. The 200 day Moving Average is falling which is Bearish. Up/Down Volume (U/D) U/D Ratio 1.4 U/D Direction UP
On Balance Volume BL Positive OBV BL Negative OBV BR
STRONG BUY, Reiteration 3/04/11 We project that NBG will strongly outperform the market over the next 6 to 12 months. This projection is based on our analysis of three key factors that influence common stock performance: earnings strength, relative valuation, and recent price movement.
Earnings Strength VERY POSITIVE very negative neutral very positive EPS decreased from $0.65 to an estimated $0.27 over the past 5 quarters. Relative Valuation VERY POSITIVE Operating Earnings Yield of 14.7% ranks NBG above 98% of the companies covered.
1-quarter up 0.5%: POSITIVE 1-month down 9.8%: VERY POSITIVE
Hi Sam, on your question: 1)yes, I am long on NBG, 60000shares, average price $1.95.
2)I think EU wants and will hold the euro together, IMF and WorldBank is ready to assist, and they set a cleear path toward financial consolidation in Greece, is firmly in place: - Greece has to sell 50-100B state assets in 5 years, and lower debt/GDP ratio to managable level -keep a reasonably frugal state by spending much less.
3) NBG is the biggest and strongest bank in Greece since 40 years (just like ING in Holland and UBS in Swiss) and this kind of financial power will never go down.
So I feel safe with NBG, just like I feel safe with my ING shares.
4) I have plenty of time. In 2-4 years NBG will at least triple, just like ING will. Both will bring me 20-30%/annum return, no matter what pundits say today or tomorrow.
5)Just think for a sec: is the extremhigh oilprice really that bad for banks? The world's biggest lobby, the oil industry is clearly dying; no more oil in 10 years; the lobby will be dead, and instead 50 million electric cars/year produced (instead of gasoline engine cars), and the banks will make nice money on this grandiose transformation. If you want to make money on this, just buy uranium mines (energy production), and Lithium mines (energy storage). And bank shares, for somebody gotta finance them. Even in Greece.