Bank Stocks 2/20/09 February 20, 2009

Today, 2/20/09, the bank stocks are getting hit hard once again as the stock market plunges to new lows today. Meredith Whitney said on CNBC yesterday that she would still sell Citi at $2.50. It appears that Wall Street is pricing in nationalization.

Banking Stock Update - February 20th, 2009 - Pre Market

Citigroup C - $2.32 Down 7.52%
Bank of America BAC - $3.60 Down 8.4%
Wells Fargo WFC - $11.21 Down 6.66%
Goldman Sachs GS - $83.75 Down 2%
Morgan Stanley MS - $19.34 Down 1.90%
JP Morgan JPM - $19.81 Down 3.83%
Financial Bear 3X FAZ - $77.40 Up 10.50%

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Bank Stocks 2/19/09 February 19, 2009

Today, 2/19/09, the bank stocks are getting hit hard once again as the stock market rises today. In Pre Market, these bank stocks were higher but have since fallen at the open. The investment banks and brokerage firms are looking higher.

Banking Stock Update - February 19th, 2009

Citigroup C - $2.80 Down 3.78%
Bank of America BAC - $4.25 Down 7%
Wells Fargo WFC - $12.92 Down 1%

Goldman Sachs GS - $88.19 Up 4.19%
Morgan Stanley MS - $21.00 Up 4.00%
JP Morgan JPM - $21.93 Up 1.93%

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Bank Stocks 2/18/09 February 18, 2009

Today, 2/18/09, the bank stocks are getting hit hard once again as the stock market continues to fall. To get a sustainable rally, we need to see the stocks below turn around and recover.

Banking Stock Update - February 18th, 2009


Bank of America ( BAC ) - $4.69 Down 4.29%

Citigroup ( C ) - $2.96 Down 3.2%

JP Morgan ( JPM ) - $21.62 Down 0.14%

Goldman Sachs ( GS ) - $83.44 Down 2.65%

Morgan Stanley ( MS ) - $19.55 Down 1%

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Bank Stocks 1/15/09 - January 15, 2009

News that Bank of America ( BAC ) is needing more Government Aid started circulating last night and Jp Morgan ( JPM ) reported better then expected earnings of .07 EPS this morning. Despite the JP Morgan news, banking stocks are taking a nose dive this morning, 1/15/09. This really all started last week when Citigroup ( C ) started to break down.

The S&P 500 has support between 815-820, so if you love financial stocks down here, it could be a great place to take a shot. I will not be getting involved however until things start to improve.

Bank of America ( BAC ) - January 15, 2009 Low - $7.35 - Current Price $8.08
JP Morgan ( JPM ) - January 15, 2009 Low - $24.75 - Current Price $26.01
Citigroup ( C ) - January 15, 2009 Low - $3.36 - Current Price $3.71
UBS ( UBS ) - January 15, 2009 Low - $11.81 - Current Price $11.90
Goldman Sachs ( GS ) - January 15, 2009 Low - $69.00 - Current Price $71.57
Morgan Stanley ( MS ) - January 15, 2009 Low - $15.25 - Current Price $15.65

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Research in Motion RIMM downgraded Raymond James

12/01/08 - Raymond James has come out this morning and cut their price target on Research in Motion ( RIIM ) from $80 to $72. I'm guessing they are citing weak holiday sales.

Upgrades & Downgrades 12/01/08

Bankrate RATE - Citigroup from Hold to Buy
Toll Brothers TOL - Credit Suisse from Underperform to Neutral

Abercrombie & Fitch ANF - Pali Research to Sell - Price Target $18 to $15
Morgan Stanley MS - Credit Suisse to Outperform - Price Target $45 to $37.5
Goldman Sachs GS - Credit Suisse to Outperform - Price Target $187.5 to $140

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Stock Market 10/12/08 - Dow Jones, G7 Meeting, Morgan Stanely ( MS )

What is in store for next week in the stock market? All eyes are on the G7 meeting this weekend and so far nothing much has come out of it. The US will start buying stakes in the US banks....this is positive but not enough. Monday 10/12 & Tuesday 10/13 could get real ugly if nothing comes out of this G7 meeting......which in my opinion is the reason the stock market had that explosive rally upward at the end of the day today.

All eyes will also be on the Morgan Stanley ( MS ) deal ......if that doesn't close look out below!

I have been buying the big dips and selling the rips....until further notice...