JPM - smashed ah's CEO Jamie Dimon explained during a hastily arranged conference call that the losses came from the bank's "synthetic credit portfolio." Trades in that portfolio were "poorly executed" and the losses were "egregious, self-inflicted mistakes," he said. "Just because we're stupid doesn't mean everybody else was," Dimon said, according to CNBC.
ADY - top of the short list, 9.25 was tops today, might see a pop through to short, but I'm overly short biased on this one because their e/r didn't warrant a 50% move and HOLD, the move is one thing, but to hold it when ur 20.1 million shy on revenue and only beat on eps by .16c your not going to hold it, this is a momentum play through and through and I'm glad it ripped should make some nice money on the way down as well.
BKS - finally, this stock isn't doing what we had hoped, next level to break through would be 20, we could get a move well beyond tgts of 20+, as this thing has been over shooting both support and resistance.
With that being said, I think JPM brings the market down some on worries other banks might take huge losses, although I liked Dimon coming out and saying that we were dumb and everyone else may or may not have been, these losses were from mistakes not from a piss poor market.
FRIDAY, May 11
Extended-Hours Earnings: ALIM, NVDA, OSIR, SOL, URRE.
Economic Data: 8:30 a.m. PPI; 9:55 a.m.