Bank Stocks 2/11/09 February 11, 2009

Today, 2/11/09, the bank stocks appear to be getting a bounce as stocks get set to open in about 2 hours. I continue to watch Bank of America ( BAC ) for signs of strength because if you believe this bank won't be nationalized, you can day trade it daily. Later today, some of the biggest Wall Street bank Ceo's will testify before Congress. Congress will be asking JP Morgan, Citigroup, and Bank of America some tough questions. With that said, I expect the banking stocks to be volatile today!

Banking Stock Update - February 11th, 2009


UBS AG ( UBS ) - $11.81 Up 5.25% - Swiss bank UBS AG loses $7.57 billion in 4th quarter, cutting 2,000 more jobs. This stock ripped higher yesterday but after the stock market fell apart, UBS gave back of its gains. UBS is bouncing right back this morning!

Citigroup ( C ) - $3.51 Up 5.24% - Citigroup is set the rebound after briefly trading over $4 yesterday.

Bank of America ( BAC ) - $5.72 Up 2.88% - Bank of America is the ultimate trading stock says Guy Adami on CNBC's Fast Money last night.


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Bank Stocks 2/10/09 February 10, 2009

Today, 2/10/09, the bank stocks are mixed as stocks get set to open in about 2 1/2 hours. I continue to watch Bank of America ( BAC ) for signs of a rebound. Later today, Timothy Geithner will unveil the Bank Rescue/Bailout plan.

Banking Stock Update - February 10th, 2009

UBS AG ( UBS ) - $11.84 Up 7.25% - Swiss bank UBS AG loses $7.57 billion in 4th quarter, cutting 2,000 more jobs.

Citigroup ( C ) - $4.16 Up 5.32% - Citi continues to rise with all the other bank stocks. A break above the Jan 28, 2009 high could spark a recovery rally toward $5.

Bank of America (BAC ) - $7.20 Up 4.50% - BAC continues to rip higher

Also watch the Regional Banks - HBAN, FITC, RF

Barclays ( BCS ) - $7.16 Up 2.32% - BCS is rising with some of the bank stocks today on no news.

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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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UBS Downgrades Solar Stocks 10/28/08

This morning, UBS has downgraded the following solar stocks SPWRA, ENER, ESLR, and SOLR. These stocks were rated a Buy by UBS and now have been downgraded to Neutral.

Solar stocks have been beaten up lately and they are all set to bounce today with the markets.