Charting Stocks

Bank of America CEO was quick to respond to the growing rumors that his bank may be taken over by the government. In a CNBC interview today Mr. Lewis said:
“I have talked with government officials, members of Congress, and regulators, and no one has ever thought nationalization of the industry was likely to happen. When [...]

Cramer recommends holding Bear Stearns at $65. We warned about it at $158 in our February 2007 Post.
Gotta love CNBC.

As of 01/02/2008 the the year price target on the S&P 500 set by the Chief Investment Strategists at the major investment banks are as follows:
Strategist Year End Price Target
Citigroup                                   1675
HSBC                                          1700
Credit Suisse                              1650
Bank of America                         1625
UBS                                             1700
Morgan Stanley                           1525
Bear Stearns                                1700
Goldman Sachs                           1675
JP Morgan                                    1590
Lehman Brothers                         1630
Wachovia                                     1590
Merrill Lynch                                1525
Average 1632
Average [...]

February 26, 2007
There’s an old saying on Wall Street–”Where the broker-dealers go, so goes the market.”
After a day of heavy selling pressure, the AMEX broker-dealer index broke below the 50 day moving average. This is not a good sign for the health of the market.
Below we see the index breaking down after todays trading.

The following [...]