I was surprised to see Barclays on the list of worrisome banks and not surprised to see Deutsche Bank there.
Results were just out 23 min ago:
"The EBA unveiled that the Italian lender's fully-loaded common equity tier 1 capital (CET1) ratio – a key measure of a bank's ability to withstand shocks - would fall into negative territory, -2.23 percent, if faced with an adverse economic scenario in 2018; a swing of 14.23 percent from what is expected to be the baseline scenario.
BMPS was a long way ahead of the banks with the nearest worrying transitional CET1 ratio. They are:
•Raiffeisen Landesbanken (Austria) 6.14 percent
•Banco Popular (Spain)7.01 percent
•Unicredit (Italy) 7.12 percent
•Barclays (U.K.) 7.30 percent
•Allied Irish Banks (Ireland) 7.39 percent
•Commerzbank (Germany) 7.42 percent
•Bank of Ireland 7.69 percent
•Deutsche Bank (Germany) 7.8 percent
•Societe Generale (France)8.03 percent "
Oh, one more thing, sorry to disappoint the TA guru, I was actually up in both of my accounts even with a ton of shorts because:
DXD + 0.24%
SPXU - 0.51%
TWM - 0.45%
WEA + 1.54%
FPF + 0.17%
GDO + 0.28%
GDX + 2.82%
BP + 1.21%
HFC + 3.25%
GLD + 1.03%
PSF + 1.14%
DSL + 1.31%
XOM + 1.01%
LDP + 0.92%
NRZ + 0.81%
while DJ - 0.13%, NADAQ + 0.14%, SPX + 0.16%
I beat the market today. Not always this lucky, especially with a pile of shorts.
Darn the market just closed, the good news is my SPXU closed at 23.51 and I bought it at 23.4676, that meant I was up 4 cents a share. Actually enough profit to buy us decent steak dinners tonite. The bad news is it was now traded at 23.45 in the after market, which means you can grab some cheaper than what I paid and if SPX dropped 2-4% on next Monday, you would say I am such a genius but if SPX continued to rise, you would say I should have listened to the blindeaf man. Everybody has a great weekend. Do not drive drunk....
Now if SPX would indeed continue to rise to 2600 like the MAD man (sorry, I meant blind and deaf man) had predicted, I would have to eat a BIG humble pie but odds are against it and I always played by the odds that would favor me......Sorry, blindeaf man...
SCHW dropped 0.85% and if there is a market correction, it will drop more....That was why I said DXD might be the BEST buy right now.....sad but true....
today after our market is closed. So far, Euro markets had recovered and closed in black, just like our announcing a Q2 GDP of 1.2 today, missing estimate of 2.6 and yet SPX made new ALL TIME high, just like CVX had losses three quarters in a row, yet its share price rose 0.72%, therefore to predict what would happen to our market next Monday after they announced the stress test results (37 Euro banks) would be anybody's guesses. But one thing for sure that results of Italian banks would not be pretty and if things are BAD enough, you can almost be assured that Yellen would not raise rate any time soon. That was why I bought back BTZ today.
Ask slick willie to do a TA on it for you. If you make money, send him 10% of your profit and if you lose money, ask him to send you 10% of your losses. Cannot be fairer than that if he is really that good with his TA.
I previously had a small position on BTZ and I sold it because like you said, its yield is only about 7.15%. However I kept seeing both my GDO and WEA kept making new 12-mo highs and BTZ also made new 12-mo high on 7/20. I do not believe Yellen would have the gut to raise rate any time soon, the only chance for this year would be in Dec, but before then the market would have either a correction or a crash, therefore she would have no choices but delays it to 2017. In short, I believe rate would keep dropping. BTZ is selling with about a 10% discount, its holdings are: AA 1.8%, A 14.1%, BBB 52%. I was unable to find too many bond funds that have better rated holdings and with decent yields like it. I believe it may continue to rise. If it drops, I would be doubling down. When Crexit hits, all junk bond funds would sink like a ROCK! Of course my timing was never perfect. But look at HFC, GDX and SCO, I was right.
toward the cliff, people yelled at him and told him to stop before it was too late, yet he could not hear, kept on walking with a smile on his face, saying how NICE the road was and how stupid all these people were, not enjoying such a wonderful road. He tried to yell "Come and join me" and before he could finish, he fell all the way down the cliff and his body was never found. They put up a sign at the top of the cliff that says: "WARNING: DO NOT follow the blind & deaf man's foot steps."
Just doubled my SPXU position by adding more at 23.4676. You either believe what you preached or you could keep on making imaginary trades afterward to boast a 100% no-loss record. Why would anybody would keep predicting this is a bull market, that DOW would rise to 20k and SPX would rise to 2600, yet he himself simply sat on a Jewish bankroll? I know why, because he is both blind & deaf and he is very very proud of it and he kept on calling others fools and losers until he fell off the cliff.......So sad.....
WEA made new 12-mo high again today. Yellen said, "Read my lips, no rate hike!"
Just added back BTZ today, really can't fight the Fed's ignorance.
This may be the LAST day we can grab some shorts cheap. I hope the market will shoot up before closing today. Trying to add more DXD.
The estimate for Q2 GDP was 2.6, yesterday the Atlanta slashed the estimate to 1.8 from its previous 2.3, today the Q2 was announced as a dismal 1.4%. Q1 GDP was adjusted from the previous 1.2% to 0.8%. But was that really that surprised? It had been previously estimated that GDP growth for us will remain at about 0.7% which was actually being pumped up by Obamacare spending. So if the Dems would be elected into the White House, guess what they would do? They would pump a lot of money into building our infrastructures, give free college educations to all of our young people, spending more money on medical care, make sure everybody have a good paying job. So how would we pay for all of these? Very simple, Hillary said we would send the bill to the top1% richest people in our country. Now please forgive me, IMHO, that would be a bunch of hogwash, the ones who would end up paying all of these would be the middle class. The riches would find numerous ways to not to pay any taxes, you can be rest assured.
So, what would be the fundamental that would keep this spectacular BULL MARKET and recent rally to continue except the Fed's pumping cheap money and by not raising rate? No wonder now Tom Lee, the perma-bull, had all of a sudden started warning everybody that a 5-9% correction was fast coming in August-September. Duh.