BKX och Indiana Jones

Bank failures to surge in coming years
IndyMac, Corus, UCBH under pressure as credit crunch slows economy

At least 150 banks will fail in the U.S. during the next two to three years, according to a projection by Gerard Cassidy and his colleagues at RBC Capital Markets.

This downturn will trigger a significant amount of bank failures relative to the past five years," he said. "There has been excessive loan growth and some banks won't be able to access capital markets to replace the money that will disappear as credit losses rise."

...

Meredith Whitney on Citigroup

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Pessimism redolent of the malaise of March has leaked into shares of Lehman Brothers Holdings Inc., which is down 6% today after a recent analyst downgrade and critical remarks from a prominent hedge-fund manager that appeared in the Wall Street Journal.

There?s been a sharp increase in implied volatility in the options market, suggesting that investors are concerned that this weakness will beget more of the same down the road. Thursday, put option volume outnumbered call option volume by three-to-one, and activity is notably weighed towards pessimism on Friday as well.

Activity earlier in the week centered around the June puts with a $35 strike price. While those are active again, the 15,000-plus contracts traded Friday trail activity in the $30 strike, where more than 21,000 contracts have changed hands, and the $22.50 strike, which has seen more than 16,000 in trades. That?s nearly 14,000 new positions in that strike, suggesting investors are looking for more selling in the shares.

Today?s Wall Street Journal reported that Greenlight Capital?s David Einhorn met with CFO Erin Callan to discuss his concerns about the valuation of certain assets and certain unrealized gains the company booked. Shares fell 2.7% Thursday on the news and continued to slide on Friday.

...

Me här om lehman

Lehman?s Lies

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

rent tekniskt ser det ut som att en botten är nära 

~~~~~~~~~~~~~~~~
mvh
S Borin

#3

Jag är inne att den inte kommer att hålla.

Who will be the next to go?

ABN AMRO
Banco Espirito Santo
Bank of America
Barclays Capital
JPMorgan Chase
BNP Paribas
Calyon Financial
Citigroup
CIBC World Markets
Credit Suisse
Deutsche Bank
Dresdner Kleinwort
Fidelity Investments
Fortis
Goldman Sachs
Interactive Brokers
Jefferies & Company
JPMorgan Chase
Lehman Brothers
Merrill Lynch
Morgan Stanley
Nordea
NewEdge Group
RBS
RBC Capital Markets
Rabobank
Scotia Capital
SEB
Triad Securities
UBS

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

#4 då blir det stor risk för rutschkana... men en rekyl upp är ju inte otänkbart vid stödlinjen ...

~~~~~~~~~~~~~~~~
mvh
S Borin

Bank of America's Michael Hecht lowered his estimate for Lehman to a loss of 50 cents a share from a previous prediction of 76 cents in earnings. Morgan Stanley was reduced to 95 cents from $1.40, and Goldman was trimmed to $3.45 a share from $3.75. For all three of the New York-based banks, the fiscal second quarter ends this week. 

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX under 75

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Bank of America

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

AIG aktien faller med över 4,48%

The $20 billion in capital raised by American International Group may not be enough for both itself and its troubled subsidiaries, an analyst told clients Wednesday. AIG shares were recently faring worst among the Dow industrials, falling 4.7%.

Citigroup analyst Joshua Shanker said the giant insurance holding company may have to funnel the capital it?s already raised into its AIG Financial Products Corp. subsidiary, the unit that has racked up heavy losses in the value of insurance written on complicated debt securities. If that?s the case, rating agencies may push AIG itself to raise even more capital to replace what it gives to its subsidiaries, Shanker said.

AIG Spokesman Chris Winans declined to comment on Shanker?s report, but said AIG has no current plans to raise more equity capital.

AIG said May 22 that it had raised $20 billion in fresh capital, more than the $12.5 billion the company said it would raise following the release of its first-quarter results earlier this month, when it reported a loss of nearly $8 billion.

"We didn?t raise the capital because we needed it," Winans said. "The demand in the market was so strong, we took the opportunity to create the extra cushion."

Because AIG?s total shareholder?s equity has declined by $24.4 billion, or 23%, since the end of the third quarter, Shanker said the $20 billion equity raise only seemed to replaced the capital lost so far. "Despite AIG?s statements to the contrary, we do not believe the company is or was in an excess capital position," he said.

Shanker estimated that AIG?s Financial Products subsidiary, which took a $9.1 billion pre-tax charge during the first quarter tied to unrealized losses on credit default swaps, is significantly undercapitalized at under $2 billion in capital and leveraged at nearly three times the level of its peers while insuring risker forms of debt.

Shanker believes that the credit rating agencies, under fire themselves for by those who say they rated risky debt too highly, will take a stricter view of credit guarantors like AIG. They may push AIG to shift more capital to shore up Financial Products? balance sheet, and then have to replace it with another capital raise.

From the wall street journal

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

 AMBAC Inc

SAN FRANCISCO (MarketWatch) -- Ambac Financial shares fell to a record low on Wednesday after the bond insurer disclosed new information about its operations in April.

se bild... Ingen Credit Crunch???

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#10 Men det syns ju tydligt i grafen att fallet har bromsats ;-) 

mvh

#11

Ja, vi upplever nu  en långsam begravning:-))

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Nouriel Roubini | May 21, 2008

It looks increasingly likely that the deal of Bank of America (BAC) buying Countrywide (CFC) may collapse:

according to many banking experts once BAC does its due diligence on this deal it will become obvious that Countrywide is effectively bankrupt (negative equity) and saddled with a mountain of litigation and potential liabilities whose size are likely to be extremely large and uncertain. The point that is becoming clear is that BAC will be better off paying the modest break-up fee and walk away from a deal that sucks in every dimension. So if CFC goes bankrupt (its bank subsidiary into a FDIC receivership and the holding company into Chapter 7 liquidation) what will be the systemic implication of the biggest banking bust in US history? Remember that CFC originated almost 20% of all mortgages in the US in the last few years. So the collapse of the biggest mortgage lender will have massive and systemic ripple effects in financial markets.

Ny Bear Stearn och då vi får se om Fed vågar komma med ett nytt rädnings paket...

se bild

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#13

OM det händer nåt negativt så tror jag det sker vid en helt oväntad tidpunkt och kommer från nästan helt ovantat håll. 

Några kandidaterer kan vara ABK/MBI samt Citi (alla har trista grafer). Eller så blir det nåt som inte alls har med bank att göra (men som kan påverka indirekt). Kanske nåt som händer utanför USA.

Bear Sterns kom ju rätt oväntat men nu är "alla" fokuserade på den typen av händelser så därför tror jag det blir nåt helt annat OM det blir nåt.

Men visst, jag håller med om att läge är en smula bräckligt.

mvh

PS: Du som har AG-Pro kan kostnadsfritt testa min Rysslands-grupp.

UBS... är inte risen över sade man? 

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

UBS

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Bradford & Bingley to issue profit warning

The announcement will trigger widespread concern that British banks are sitting on a time-bomb of rising mortgage arrears and mounting bad debt. It will also reignite fears about the viability of some of our top financial institutions.

...

Another said: "The share price has been saying for weeks that something is wrong, but no guidance has been given to the City".

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Vallejo gone bankrupt.

...

``It's a bittersweet moment,'' City Councilwoman Stephanie Gomes said in a phone interview. ``It's bitter because our city is in such pain, but it's sweet because we are finally addressing our problems. We are finally addressing it head on.''

Police and firefighting salaries, pensions and overtime consume more than 70 percent of the city's $89 million general fund budget. That's higher than the 60 percent average throughout the state, according to the League of California Cities.

``I guess the battle goes into a courtroom now,'' said Kenneth Shoemaker, a city worker and member of the local International Brotherhood of Electrical Workers union.

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Wachovia Ousts Thompson on Writedowns, Share Plunge

June 2 (Bloomberg) -- Wachovia Corp. ousted Kennedy Thompson as chief executive officer of the fourth-largest U.S. bank after the board blamed him for losses that cost the lender more than half its market value in the past year. The stock fell as much as 4.5 percent

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX

 mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

S&P removes Citigroup from CreditWatch negative.

S&P places Wachovia on CreditWatch negative.

S&P revises Bank of America, JPMorgan outlooks to negative.

S&P cuts Lehman, Merrill Lynch, Morgan Stanley ratings.

``The outlooks on the large financial institutions sector in the U.S. are now predominantly negative,'' S&P said in today's statement.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

Morgan Stanley, Merrill, Lehman Ratings Cut by S&P

The downgrades may make it harder for the banks to sell derivatives such as credit-default swaps that are tied to bonds or loans, said Brad Hintz, an analyst at Sanford C. Bernstein in New York. Single-A rated firms are less desirable as trading counterparties for fixed-income derivatives that extend longer than five years, he said.  

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

NEW YORK (MarketWatch) -- Bank of America (BAC) CEO Ken Lewis said on Monday that the bank is aiming to have a Tier 1 capital ratio of "8% to 8.5% over time." Lewis was was speaking on a conference call sponsored by Deutsche Bank. On the same call, Lewis said that he expects rising loan losses in the consumer business. He said he sees home equity losses going above 2% of the firm's home equity portfolio, and said credit card charge offs "could be slightly above 6% in the next quarter or two." He said Bank of America, like other banks, is in a nasty cycle of building reserves at the same time charge offs are rising. Once that slows, and reserve builds ease, he said, Bank of America's earnings power will become more evident. Until then, though, he said that Bank of America's consumer business, "will build reserves again, and we'll have rising losses."

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Lehman Put Open Interest: Just Like Bear Stearns

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

LEH

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX bull / bear

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#25

LeH fortsätter ner  med över 9 % nu...

I väntan på Bernanke

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

Derivatives Traders Signal Banks' Credit Woes Likely to Worsen

``The movement in the forward Libor-OIS spreads is telling you that the market is concerned that things can get even worse before they get better,'' said Carl Lantz, an interest-rate strategist in New York at Credit Suisse, a primary dealer. ``Until all banks' balance sheets are cleaned up and they've re- capitalized, there is going to be funding pressure.''

...

`Longer-term Capital Problem'

Three-month Libor-OIS forward spreads through December maturities are closely in line with each other, which indicates the problems with Libor will be longer lasting, according Mustafa Chowdhury, head of U.S. interest-rate research in New York at Deutsche Bank AG, a primary dealer.

The Libor-OIS forward spread that corresponds with the Dec. 15 Eurodollar futures expiration date was 68 basis points yesterday.

``Instead of being an immediate bank liquidity problem, Libor is now being affected by a longer-term capital problem,'' Chowdhury said. The market ``had previously expected the liquidity problems that had boosted the Libor-OIS spread to dissipate relatively quickly, and thus, the forward basis spread curve was sharply inverted.'' An inverted rate environment is when rates with shorter maturities are above those on longer maturities.

``Now the basis spread curve is relatively flat, indicating a longer-lasting problem with Libor,'' Chowdhury said. 

 mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

 
LBO Debt Risk Rising in Europe on Lower Cash Coverage, S&P Says

``What should be a real concern for investors is the fall in cash-coverage ratios, which are lower than in 2007, when they were already at record-thin levels,'' Taron Wade and David Gillmor wrote.
...

The ``thin credit metrics'' means companies have less of a cash cushion to absorb losses or to invest in their business, resulting in a greater risk of default, the analysts wrote. The default rate in Europe was 1.3 percent in 2007.

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Lehman Brothers May Have to Put Itself Up for Sale, WSJ Says

By Alan Purkiss

June 4 (Bloomberg) -- Lehman Brothers Holdings Inc.'s balance-sheet troubles threaten to harm the wider financial system unless the bank takes decisive action, the Wall Street Journal said in its ``Heard on the Street'' column.

The company, which is likely to report a second-quarter loss this month, may be forced either to sell all or part of itself to a bigger financial firm or sell a large quantity of new shares, the newspaper said.

If it were to go for the outright sale option, Lehman might, at the right price, attract interest from Blackstone Group LP, Citadel Investment Group LLC or J.C. Flowers & Co., the Journal said.

The investment bank has seen its shares fall for two days in succession and they're now 22 percent below their book value, reflecting investors' concerns about the values put on its assets, many of which are backed by poor-quality real-estate loans, the newspaper said.

While a plan to sell as much as $4 billion of new stock is being considered, the share-price decline makes it harder to do that, and as Lehman's market capitalization has fallen to about $17 billion, $4 billion is equivalent to almost a quarter of the company, the newspaper said.

Investors might, in any case, want the bank to raise more than $4 billion, to cover any future losses from marking down asset values, the Journal added. 
 

Mvh BWV_903

MBIA, Ambac Aaa Credit Ratings Again Under Threat at Moody's  

och bkx fortsätter ner.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

MBI

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#0

BKX ny lows 

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX next stop är 65 efter 70

se#0

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX under 70

Mer elände att vänta... 

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Lehman Loses $2.8 Billion, Plans to Raise $6 Billion

``It's kind of sobering for people who have been listening to the company these last six to nine months that they had everything under control,'' said David Hendler, an analyst at CreditSights Inc. in New York. ``It shows that the market continues to be difficult. I would say Lehman's probably not the only broker that has these kinds of pressures.''

STOCKHOLM (Direkt) Lehman Brothers spår att
nettoresultatet för det andra kvartalet kommer att landa på -
5:14 dollar per aktie (2:21).

Banken spår även 700 miljoner dollar i negativa
nettointäkter för det andra kvartalet (5,5 miljarder).

Enligt Thomson-Reuters tidigare
prognossammanställning var en förlust på 0:22 dollar per
aktie väntat. Nettointäkterna väntades bli 2,62 miljarder
dollar.

Lehman Brothers planerar också att ta in 6 miljarder
dollar i nytt kapital

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#15

#16

krisen är över, det var många som trodde det och hoppats på... förgäves

STOCKHOLM (Direkt) Den schweiziska storbanken UBS har
handelsstoppats i Zürich.

Under dagen var aktien som mest nere med 9 procent.
Före handelstoppet hade aktien sjunkit 4,1 procent.

Den schweiziska börsen stoppade handeln i UBS aktie
för att utreda eventuell felaktig handel i teckningsrätter.

Rykten om eventuella nedskrivningar på mellan 2 och 4
miljarder schweizerfranc tyngde aktien under dagen.

Enligt schweiziska börsen kommer handel att
återupptas senare under dagen.

mvh  spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

LEH  forsätter ner 

Lehman President and CFO Step Down

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Survey of Credit Underwriting Practices 2008

WASHINGTON ? The Office of the Comptroller of the Currency released today its 14th annual Survey of Credit Underwriting Practices and reported that commercial and retail underwriting standards tightened after four consecutive years of eased underwriting standards.

The 2008 survey included examiner observations and assessments of credit underwriting standards at the largest national banks. The survey reflected that the disruption in financial markets that began in 2007 led to an abrupt change in risk appetite of the majority of the banks and a renewed focus on fundamental credit principles by bank lenders.

Examiner assessments found that risk in both the commercial and retail portfolios increased over the past year and they expect portfolio risk to continue to increase over the coming year. Key factors that contributed to the rise in product and portfolio credit risk were the weakening economy, rising energy costs, turbulence in the secondary credit markets, the downturn in the housing market, and the anticipated impact of relaxed underwriting standards over the past few years on payment performance.

The 2008 survey included the 62 largest national banks and covered the 12-month period ending March 31, 2008. The aggregate total of loans was $3.7 trillion, which represented over 83 percent of all outstanding loans in the national banking system.

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Video: Lehman Execs Out

lDet kostar när man ljuger... och marknaden tappat förtroendet för företaget...

mvh spx970  

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Short-Sellers, The Ackman Approach

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Shares of major financial-services companies, from investment banks to commercial giants to regionals, lost ground in trading after Goldman Sachs analysts (fresh off their own firm?s reasonably solid earnings report) said the banking crisis isn?t close to over, and that "we believe that a broad based rally in bank shares is unlikely in coming months." The firm reiterated its underweight stance on the regional banking industry, anticipating acceleration in credit losses and the need for an additional $65 billion in capital for companies in the sector.

"The gist of it is, you don?t have a healthy economy if you don?t have healthy financials," says Anthony Conroy, head trader at BNY Convergex. "There seems to be no end in sight right now." Looking at a more specific name, shares of Regions Financial fell 7.2% after the company was downgraded by FBR analysts, who said the company will continue to see a rapid deterioration in credit.

Så eländet kommer att fortsätta...

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

XLF under Mars low 

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX

61,11 lägsta

lånat bilden.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

Inlägget är redigerat av författaren.

Big Money is expecting a reversal to the upside

XLF Options at Thursday's close:

July 25 calls: 297,929
July 25 puts: 62,658

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#46 Hehe, man väljer ju vad man vill utläsa av det där...... två sidor av myntet du vet :)

De som ställt alla de där callsen förväntar sig förmodligen något annat ;) 

|StRY| "Caveat emptor. Buyer beware."

bkx

 60,01 lägsta

 mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

#0

Nu är BKX runt 50 ...

Och eftersom jag tror att vi har inte sett botten så räknar jag med fortsätt fall mot 30 tills bankerna bevisar nåt annat

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Dem som tror att botten är nåd för finans aktier kommer tyvärr att ha fel igen. Finans krisen är inte över och utifrån dem rapporter jag läser ...

Det kommer att bli värre... jag kommer denna vecka hoppas jag att skriva lite  mer om det och annat...

Jag kan helt enkelt säga vad Bernanke , Hank och kongressen gjorde för att baila out F/F  och alla andra lösningar är början för nya kriser...och inte slutet...

Bilden ni ser är bkx vs spx.   Och som ni ser spx toppat år 2000 men bkx år 2001...

2007  hände det motsatta, bks toppat några månader innan spx 500.

Jag kan inte tro för en sekund att bear market för finans aktier är över... Det är tyvärr en långdragen historia där många kommer att förlora pengar om dem inte vänder dessa aktier ryggen...

Senaste tiden kraftiga nedgång för råvaro aktier och kraftiga uppgång för finans har mest att göra med att hedgefonder var tvungna för att säkra vinsterna på att sälja råvaro aktier och köpa blankade finans aktier...

Och lägg märk alla uppgångar som kommer att sluta i tårar började tack vara att fed agerat...

Jag har sagt det flera gånger Fed agerande kommer inte att stoppa eländet...

Huset håller på att rasa och det fed gör nu är försöka stoppa raset för att rädda så många som möjligt från WallStreet  .... men vem kommer att rädda MAIN STREET  Och är dit ni ska vända blickarna.

ha det gott

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

1)

Credit squeeze getting worse, banks say
Most banks less willing to lend to businesses, consumers

Consumer credit: A record 36% of banks reported less willingness to extend consumer installment loans; only 2% were more willing.

2)

Fed Says Banks Toughen Standards for All Loan Types

``When the Fed started to cut rates, mortgage rates and other rates were actually lower than they are today,'' former San Francisco Fed Bank President Robert Parry said before the report. ``To say that things are easier in many areas of credit would be mistaken.'' ``

``Large majorities of domestic respondents reported having tightened their lending standards on prime, nontraditional, and subprime residential mortgages over the previous three months,'' the Fed said.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX ner mer än 6 %

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Goldman Sachs and J.P. Morgan Chase have been the A students of the financial-services industry since the start of the credit crunch ? and that?s why it was so jarring for the two firms to end up wearing the dunce cap on Tuesday.

J.P. Morgan saw the steepest drop among Dow stocks, falling 9% after it said it had piled up $1.5 billion in losses in July amid tough sledding in the credit markets. Ladenburg Thalmann analyst Richard X. Bove wrote in a note that J.P. Morgan is "as close to a perfect storm as the bank can get." And Goldman fell 6% after big-name analysts including Deutsche Bank?s Mike Mayo and Oppenheimer?s Meredith Whitney raised questions about the firm?s exposure to embattled global equity markets. The action in the options market Tuesday suggested that investors are strapping in for more downside in financial shares, noted Rebecca Engmann Darst of Interactive Brokers.

Implied volatility in Goldman options has jumped about 20% since Friday, "suggesting a rising current of risk awareness in the market," she said. The largest trade of the day was for a Goldman contract lot purchase of September puts that would need Goldman shares to drop below $155.90 by Sept. 19 to make money. - With Geoffrey Rogow

mvh spx970
" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

bkx fortsätter ner

nu med över 3,49%

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Mortgage Spreads Blowing Out Toward March Levels

Yields on agency mortgage securities compared to U.S. Treasuries approached a five-month high today. Spreads rose to 215 basis points in intraday trading today, the highest level since early Mach 10, just prior to the crisis that leveled Bear Stearns, according to data compiled MKM Partners analyst Mike Darda. Over the past several weeks, the spread has been edging toward the 22-year high of 238 basis points set in March.

The so-called "agency mortgage bonds" amount to a $4.5 billion market guaranteed by federal agency Ginnie Mae or government-backed Fannie Mae and Freddie Mac. The rise of the spreads is widely viewed as a sign of stress in the financial system. More specifically, many believe that despite government moves to shore up Fannie and Freddie, the odds of the guaranteed bonds defaulting has increased.

 mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

A lot of banks are already bankrupt. A lot of monoline insurance companies are bankrupt and financial institutions hide their rotten assets in level three asset categories where you don?t really need to value them. 

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX...

Många har ett öga på nivåer runt 60...

Stängning under denna nivå öpnnar dörren för july low...

 mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Five-Year Swap Spread Tops 100 on Risk Aversion

Interest-rate derivatives are showing that investors are preparing for another round of turmoil in credit markets amid renewed concern that the U.S. will have to bail out Fannie Mae and Freddie Mac.

``Risk aversion is continuing in the market,'' said Suvrat Prakash, an interest-rate strategist in New York at BNP Paribas Securities Corp., a unit of France's largest bank. ``These firms really may very well be closer to insolvency than we thought.''

...

The five-year swap spread traded at more than 104 basis points late yesterday. The spread moved above 100 on July 17 for the first time since March, then retreated later in the month. The spread peaked at 116 basis points on March 6, the most since at least 1988, when Bloomberg began compiling data. 



mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Libor on the rise amid banking stress

The three-month dollar London interbank offered rate reached 2.81 per cent, a level not seen since mid-June. Libor remains particularly elevated when compared with the official overnight rate - the Federal funds rate - of 2 per cent. The difference of 81 basis points between Libor and the Fed funds rate compares with an average spread of about 12bp that prevailed before the onset of the credit squeeze last year.

 "There is still stress in the system," said George Goncalves, strategist at Morgan Stanley. "Libor is creeping up, and banks are still restructuring their balance sheets."

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

BKX.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Indiana Jones agerade igen... 

Financial Sector Breakout?

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

5 Reasons Why Paulson?s Fannie Freddie Bailout Will Fail 

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX 

Nu gäller att bevaka 65, stägning under denna nivå kommer attöppna dörren mot 45-47

65 är en livliva för dem stora hajarna... Man kommer helt enkelt att tappa tålamod för finans aktier...

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

För första gången " Indiana Jones " inte bailar out en stor bank... Vilket tror jag han var tvungen att göra det...

Det värsta som jag har pratat om i flera månader har börjat materialiseras... men vi lär se mer av det.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

STOCKHOLM (Direkt) En ökad osäkerhet och minskad
vilja att ta motpartsrisk inom banksystemet är den omedelbara
följden efter Lehman Brothers kollaps och kringliggande
finansinstituts problem. För de svenska bankernas del väntas
blickfånget åter att riktas mot risk och i ett större
perspektiv väntas turbulensen kunna fördjupa lågkonjunkturen.

Det säger Rodney Alfvén, analyschef och
bankanalytiker på CA Cheuvreux, till Nyhetsbyrån Direkt.

"Det handlar inte bara om Lehman, det är Merrill
Lynch, Washington Mutual och AIG. I dagsläget är det
förvirring. Man kommer att få höra väldigt mycket olika
signaler och ingen kan räkna ut hur det här kommer att
sluta", säger Rodney Alfvén.

På kort sikt kommer det att råda förvirring på
marknaden och bankernas vilja att handla med varandra väntas
urholkas ytterligare, menar han.

"Vad som händer är att bankerna kommer att bli ännu
mer ovilliga att ta motpartsrisker. Den närmaste perioden
kommer att präglas av en hel del förvirring. Lehman har
faktiskt bara begärt moderbolaget i chapter 11 - inte de
rörelsedrivande dotterbolagen. Det gör att man då ska försöka
reda ut var man har motpartsriskerna någonstans. Sedan är det
så att mäkleriet knappast lär överleva då alla i princip har
stängt av dem från sin handel", säger han.

Det andra som skapar förvirring är enligt honom att
bankerna just nu sitter och räknar på vad de har för
exponering på olika sätt, inom krediter, cds:er, värdepapper
och så vidare.

"När bankerna väl har räknat ut det kommer den tredje
frågan - vad innebär det här för förluster? Under den
perioden kommer marknaden att präglas av ytterligare ovilja
att ta motpartsrisker, vilket i förlängningen riskerar att
fördjupa den globala lågkonjunkturen", säger Rodney Alfvén.

Att Merrill Lynch blir uppköpt är väldigt positivt,
då blickarna annars hade vänts mot den som nästa krisbank.
Försäkringsjätten AIG kommer att kräva in ytterligare kapital
och rykten i helgen säger att UBS tvingas till ytterligare
nedskrivningar, sammanfattar Rodney Alfvén.

De senaste dagarnas händelser på Wall Street väntas
endast på marginalen att göra det dyrare för de svenska
bankerna, men framför allt kommer marknaden att återgå till
att fokusera på risk.

"De svenska banker som från början upplevs ha störst
risk kommer åter att hamna i blickfånget", säger han.

Klockan 12.00 handlades Swedbank A ned 7,1 procent
till 107:75 kronor medan SEB A tappade 7,6 procent till 109
kronor.

Nordea backade 5,0 procent till 84:80 kronor per
aktie. Handelsbanken A, som även presenterat ett
tilläggsförvärv på den danska bankmarknaden för en dryg
miljard kronor, sjönk 4,1 procent till 152:50 kronor.

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Ripple Effects for Wall Street

Roubini: "All of the independent broker dealers are going to disappear. In March it was Bear Stearns. Tonight it was Lehman and Merrill Lynch. Morgan Stanley and Goldman Sachs should go find a buyer tomorrow. The business model of broker dealers is fundamentally flawed. They cannot survive."

Bazooka Paulson

"If you have a bazooka in your pocket, and people know you have a bazooka, you may never have to take it out."

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Lewis: Financial Services to be "Tough" through 2009 

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Ted spread rises to new high...

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

 BKX ner mer än 8 %

Gold gains $83.80 in intraday electronic trading...

Flight to safety

Gold futures surged more than $80 an ounce Wednesday, the biggest daily gain in dollar terms since at least 1980, as news of the U.S. government's takeover of the biggest U.S. insurance company fueled massive safe-haven buying. Gold for December delivery closed up 9% at $850.50 an ounce. It earlier jumped $83.80 to $864.30

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

Jag har inte ändrat min bild för BKX. Hank och Ben gör allt för att stoppa nedgången och än sålänge dem har lyckats men jag tror inte att det kommer att stoppa den naturliga nedgången...

Framtida vinster kommer att visa vägen...

Note what happened on September 18th. and 19th.    The BKX hit a low of 58.62 on the 18th. and then  hit a high of 83.43 on the 19th.   The volatility swing was EXTREME with a low to high move of 42.3% in a two day period. To put it in perspective, imagine what would happen if DJI or the S&P had a 40% swing in a two days. 

BKX weekly

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#70

BKX uppdatering...

Ben och Hank har misslyckats totalt... deras försök att lyfta finans aktien så att investerare återtillbaka för att köpa denna grupp har slutat i fiasko...

Och bilden säger en del...

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

bkx ner 11,89%

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Det värsta är att det nog inte räcker.....

Här en P&F

MVH Nisse45 

BKX på minus...

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

spx970: Hur ser du på att BKX inte har slagit ut julilow ännu? Det kan förstås komma snart, alternativt är det en stor dubbelbotten, men det är ju ändå en positiv faktor i det hela. Börsen som helhet har satt mycket lägre low samtidigt som BKX håller upp. 

#75

Tankenhar slagit mig men jag utgår från att det inte kommer att hålla...Och det är säkraste just nu.

Det kommer att kosta mycket om jag nu börja jaga botten...

Varje dag är en ny dag...

BKX måste visa vägen...Och du vet att följer noga ted spread... Ligger just nu runt 4.37.

Den måste ner under 1 så vi kan andas ut...

BKX stängde ner 7,23% ...

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

Fears of Lehman´s CDS derivatives haunt markets

"Those on the wrong side of these Lehman debt contracts - known as credit default swaps (CDS) - must come up with the money by Tuesday, the next D-Day in the ever-fraught calendar of the credit markets. There has been a deafening silence so far.

There is no easy way of finding out who they are, so every bank and insurer is suspect. The $55,000bn CDS market is "completely lacking in transparency and completely unregulated" in the words of Chris Cox, the chairman of the US Securities and Exchange Commission."

Länk till hela artikeln

BKX

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

För att uppgången skall håller måste BKX stiga mer...

från 3% i öppninge till till 1, 56% senaste

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Nu bkx minus 1%

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX hänger inte med...

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

video

Future of Financials: Discussing the future of the financial sector, with Meredith Whitney, executive director of equity research at Oppenheimer & Co

BKX ner -om det står sig - mer än 9% denna veckan...

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Jag har alltid trott att vi inte nått botten för bkx... för botten för denna sektorn är ett måste för att kunna tro på en långsiktigt botten.

Jag har t.o.m gått emot mina källor som Donald Coxe som hävdat att vi inte kommer att se bkx under 49...

Men sade vidare om vi bryter under 49 så betyder att jag kommer att ha fel och mer eländet för börsen. Jag vänta på en updatering från Coxe

Ni redan vet att citigroup stängde igår under 10... ny low

Goldman samma elände...  Buffet köp på 115 och nu 66.. så de trodde att Buffet lär ha ångrat det. Och det är absolut inte bufftes fel... men kanske fel när han gick ut och sa att jag köper usa...

Google ny low 287.. nivåer vi såg under 2005

Så mitt råd gäller fortfarande... avvakta långsiktiga köp.

Google noterat ny botten 287 lägsta 205.

tyvärr inga bilder ... gärna om nån kan fixa en bild på bkx...

ha en bra dag

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

#83 BKX daily 

mvh

PS: Testa gärna min Rysslands-grupp. Nu även med svensk breddanalys.

jag tror Paulson längtar efter en lång semester för han vet att hans policy löser inget...

 U.S. Shifts Focus in Credit Bailout to the Consumer

The Treasury Department on Wednesday officially abandoned the original strategy behind its $700 billion effort to rescue the financial system, as administration officials acknowledged that banks and financial institutions were as unwilling as ever to lend to consumers.

...

The news that the government will not buy soured mortgage assets, along with a string of poor corporate earnings, disheartened investors on Wednesday, sending the markets down for a third straight day this week. The Dow Jones industrial average fell 411.30 points, or 4.7 percent, to close at 8,282.66.

Marknaden behöver positiva nyheter för att stoppa nedgången om än tillfälligt...

 mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Yesterday, the BKX was heading straight down to retest the recent lows again. If the BKX can't hold above the recent lows, then its next stop is down to the August 1st., 1996 low of 44.09. That would close an unfilled gap that was set in place 12 years ago. 

...

Fewer car loans, fewer car sales, and less revenue for the auto manufactures will curtail any decent chance of surviving. Bail out money will not solve eroding sales being crucified by an inability for consumers to get loans.

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX: jepp, ny low...

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Allt vad  Ben och Hank gjorde var för att rädda finans sektor från en säker kollaps...

Men BKX misslykande med att hålla senaste low tyder på fiasko...

#78

Nästa 44.09 1996 low ? #86

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Inlägget är redigerat av författaren.

Slakten fortsätter...

43.37 lägsta så länge...

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

spx970

allt snack om  950 0 vidare är nog bortblåst nu   Illa:)) 

Mvh onasis

#90

Inget är bortblåst, men fördröjd...

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#89

bkx 

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Stocks Plunge, Bond Risk Climbs After Paulson Changes Approach 

Treasury Secretary Henry Paulson?s shifting approach to rescuing banks helped send U.S. financial shares to their lowest level in 13 years and credit default risk to a record high, and left investors worried more pain is coming.

"Changing the terms of the TARP as suddenly as he did undermined investor confidence," said Richard Schlanger, a bond fund manager in Boston at Pioneer Investments, which oversees $44 billion. "It?s a frightening situation."

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

#86

Fear and panic remains in the Financial sector and yesterday's drop was a vote of no confidence in what Bernanke and Paulson have been doing. 

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

Paulson Trying To Rewrite His Own History

Treasury Secretary Henry Paulson spoke at the Reagan Library this afternoon, and judging by the speech, it appears as though Mr. Paulson is embarking on a PR campaign to rewrite the history of his handling of the credit crisis. One line that stood out was when he said, "By pro-actively addressing the problems we saw coming..."

 Saw coming... saw coming...  Jag drömmer...

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX... värst av alla

mvh spx970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

BKX, bäst av alla upp med över 16%

mvh spx970 

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet

såg precis en analys av Tony C och han menar att detta index måste igenom den nya neckline på 45 annars blir det neråt igen o juletiderna blir svåra:)

Håller du med? 

Mvh onasis

såg precis en analys av Tony C och han menar att detta index måste igenom den nya neckline på 45 annars blir det neråt igen o juletiderna blir svåra:)

Håller du med? 

Mvh onasis

#99 

Det är inte nivåerna som är viktiga men väl att bankerna har lägget under kontroll,,,

No more write down...

mvh px970

" Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful." Warren Buffet