I think it all depends on whether or not Benmosche is wearing pants behind the desk when he talks to Maria Bartiromo about it.
Actually, it hasn't gotten above the level of the left shoulder, so the formation is still intact. But like I said, I think most of that stuff is bs. All that matters are trend lines, volatility and resistance. Right now, that 50dma is the issue.
Icahn bought between 18 and 19. He didn't buy at 12, he bought 2015 calls with a 12.30 strike. He also sold puts against that strike.
"Nice try but the FACTS are that the min does not cause inflation..."
Oh really? Where'd you hear that, some ideologue economist? Paul Krugman or some other hack? Anybody who knows even a tiny bit of basic economics knows that higher labor costs equal higher prices.
"If for years and years we have had no raise of the min wage while inflation increased every year how do you even think that the min wage will increase inflation?"
Did I say raises in min wage were the ONLY cause for inflation? No I did not, so why are you arguing with a straw man? This is the problem in this country. You cannot have a simple argument with someone like you because you distort the discussion in order to serve your purpose. What I said was that the primary cause for inflation was money printing (and the cheap money policy that's been going on for nearly 30 years) by the Fed, which becomes necessary because of government deficits AND massive trade deficits. The fed has been papering over these problems for DECADES with cheap money for the rich while taxing the poor with a high inflation rate. If you really want to solve a problem (instead of simply arguing with straw men to serve your party affiliation), you should get the fed to stop what it's been doing. QE is simply the process of taking money away from the poor and the middle class with their knowledge or even awareness and giving it to Wall Street.
Raising the minimum wage does nothing in real economic terms. It just causes inflation, which is essentially a regressive tax -- in other words, you will be hurting the people you are trying to help. If you really want to help the working poor, stop printing money. That would make food, fuel, and housing much more affordable. Their current wages would go much, much further.
Ok, once you get political on these boards, you can effectively declare the board dead because it will get taken over by the crazies, and there will no longer be any discussion about AIG. Yeah, Obamacare sucks, I buy insurance too, and my premium is going up as well (though not nearly 3x), so I don't disagree with you. But this is not the place.
Just bought it at 15.44. A terrible quarter is priced in, IMO. Let's go. I hate tech, but this one has good IP and steady revenue streams. It's a no-brainer at this level.
And fwiw, NYCB rallied all the way through a decline in 10yr yields in July through Sept.
The reason for the 10yr yield going higher was the jobs report. Any indication that the job market is improving will cause a rally in financials. That's because a better economy means more loan demand, more business for banks.
Wait for the volume to die down, and maybe buy more next week. It's funny -- I sold Jan 55 a couple months ago and I was worried I'd get called. Haha. I guess I don't have to worry about that anymore.
Don't get too hung up on bashers and trolls. They appear when a stock is in the doldrums and they disappear when things are good. There's zero accountability in the financial media, and forget about blogs and message boards. Be happy with your gains and let it go. You'll go nuts if you let them bother you.
Not to brag, but I was 100% right about this. Of course, I didn't say when it would happen. I just made a killing. Congrats to everyone making $ today.