Charting Stocks

Bank of America disclosed that Merrill Lynch lost $15.84 billion in Q4 of 2008. The loss is $500 million more than BAC had previously estimated.
BAC’s Merill Lynch unit got a direct injection of $20 billion in federal aid while it paid out roughly $3.6 billion in executive bonuses and broker retention packages.
Bank of American bought [...]

Andrew Cuomo, The NY Attorney General, filed a motion on Monday asking former Merrill Lynch CEO John Thain to provide more information regarding the billions of dollars in bonuses paid out to Merrill employees on the eve of the B of A merger.

Attorney General Cuomo has alleged that Thain is not answering the questions under [...]

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 [...]

In a letter to Braney Frank, New York Attorney General Andrew Cuomo has accused Merrill Lynch executives of corporate irresponsibility by secretly and prematurely awarding $3.6 billion in bonuses as taxpayers were bailing out the industry.

Cuomo says that instead of disclosing its bonus plan in a transparent manner designed to assure the payments were warranted, [...]

2009 will be a year of complete destruction for the US economy. 5 Million will lose their jobs. The Dow Jones Industrial average will break below 6,000. Municipalities will fail. Insurers will fail. The unemployed and foreclosed American population will take to the streets and begin rioting. The Greatest Depression is upon us.
Sound far fetched? [...]

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 [...]