Charting Stocks

Morgan Stanley CEO announced that he is stepping down as CEO and will be replaced by James P Gorman.  Mack, who spent four years as the head of the prestigious investment bank, will remain with the firm as its Chairman.
James Gorman joined Morgan Stanley in early 2006 as the President and COO of the firms [...]

Financial stocks are beginning to show signs of weakness with Citigroup (NYSE: C) looking the most vulnerable.
Citigroup stock (chart below) was the first in this group to break their previous uptrend line. With RSI under 50 and the MACD indicator turning negative, it appears that Citi may be under some pressure in the coming weeks.

The US government issued approval for 10 of the nations largest banks to pay back the TARP money.  The banks are:

The Morgan Stanley Smith Barney deal is now official.  The new wealth management firm officially launched this week and has more than 20,000 financial advisors with $1.7 trillion in client assets. The firm has been formed through a joint venture between Morgan Stanley and Citigroup. Morgan paid $2.7 billion for a 51% stake in the [...]

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 [...]