Northern Trust Corporation (NASDAQ:NTRS)

Strategy Session December 6th, 2016

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Strategy Session
December 6th, 2016
   00:35
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NTRS Weekly Chart

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  • Forexpro: ...
    So what about $STT, where I spent so many happy and prosperous (generally) years? It got its clock cleaned after observing during the call that sophisticated institutional investors - the bank's core clientele - can read a Bloomberg screen, and dema ...
  • Forexpro: ...
    It can be challenging. Custody in the U.S. is an oligopoly, but the oligopolists (the other major players are $BK and $JPM, with $NTRS and $C smaller in scale) compete ferociously for every mandate. Margins for the core business are consequently raz ...
  • joelsg1: @Forexpro $SPY $STT $BK $JPM $NTRS $C Wow, amazing info and insight, thank you heartily. I hope the Kid appreciates the time, effort and wisdom imparted, I certainly do. P.S. he does, and appreciates your generosity. Their fledgling West Coast operation is trying to ramp at a difficult time, but at least no shortage of parking, as I understand. He’s attracted interest from some others, like $SIVB, so he has a tough decision this month, better informed by you. Thanks again for your kind reply.
  • Forexpro: Re: $BK Hi, Friends, The trust banks are sometimes neglected, but $BK and $STT are both up 5+ percent, $NTRS 4 percent, on the back of $BK's results. If I'm not mistaken, $STT reports tomorrow, $NTRS on Wednesday. Be it noted that $BK has made it back to the 50 percent retracement of the Sept 15 45.01 high to Oct 13 36.22 low. Oct 13 wasn't all that long ago, but moves end at some point, generally speaking. Anyway, no position apart from a daughter employed at $BK but interested in the sector where I spent a goodly chunk of my career, albeit at $STT. Hope your day is off to an excellent start; all the best!
  • Forexpro: ...
    Nice chart, huh? Looks like a potentially decent short to me if it can manage to crawl back to 46. It took a downgrade from $JPM this morning, which seems sort of gratuitous at this point. For this one, and for $STT and $NTRS, one of the variables d ...
  • Forexpro: ...
    I have no idea when the custodial banks will come back into favor. Looks as though today ain't gonna be the day. Be it noted that $NTRS, the smaller cousin of $BK and $STT, is doing relatively well. Just relatively.

    Here's hoping that the session ...
  • Forexpro: ...
    Custody per se is basically a breakeven game, as $BK, $JPM and to a somewhat lesser extent $NTRS compete fiercely for every new mandate. In addition to a steep short end of the curve, getting customers to do FX, securities lending, etc. is key. In m ...
  • Forexpro: ...
    So, what's the business model? Custodial banking is scalable, and investment in heavy computing iron is substantial, and ongoing. The industry has just enough competitors to keep prices depressed for the core custodial functions ($BK, $NTRS, $JPM in ...
  • scottrades: Some #Earnings to be aware of this week. $NFLX $BAC $FCEL $GS $PG $INTC $SCHW $UNH $MS $HAL $FAST $CMA $STT $ASML $UAL $ONB $IBM $TFC $JBHT $MBWM $CTXS $USB $UNP $ALLY $TRV $BK $AA $LOGI $SLB $ZION $CFG $KEY $FBC $ISRG $IBKR $FHN $BKR $KMI $NTRS $DFS $CSX $EDU $HOMB
  • Forexpro: ...
    Another custody bank, $NTRS, avoided this whole mess by the simple expedient of noting "Northern Trust intends to benefit from these transactions" when describing its foreign exchange offering to custodial accounts. That attorney earned he ...
  • Forexpro: ...
    My former colleagues at State Street Global Markets do a monthly equity market update which purports to be prescriptive as well as descriptive. The firm actually does very little equity business apart from transitions, although transition management ...
  • Brice: @Forexpro $BK $JPM $NTRS $STT Thanks for sharing this valuable information, as always!
  • Forexpro: @Brice $BK $JPM $NTRS $STT You're very welcome, Brice. Hope you're well, and thriving; cheers!
  • mulligan: @Forexpro $BK $JPM $NTRS $STT Great summary, thanks for sharing.
  • Forexpro: @mulligan $BK $JPM $NTRS $STT You're Very Welcome, Mulligan, Good hunting today!
  • Forexpro: ...
    Well, waddya know? A bank beat estimates. A sort-of bank, actually; $BK does little or no retail banking and commercial lending. The key businesses (as for $STT, as for $NTRS) are custodial services for institutional investors and money management. ...
  • Forexpro: ...
    Not, typically, a big mover pre-market, but $STT is doing reasonably well following its report. Who knows? Perhaps it will hold. It's possible that the firm is taking market share from $BK (the other major players in the space are $NTRS and $JPM), a ...
  • scottrades: $NTRS Trying to push above a base
  • Forexpro: Re: Yield Curve, $NTRS, $WFC

    Hi, Friends,

    Attached please find a chart of the 10-year Treasury note yield vs the 3 month T-bill rate, reportedly the Fed's current favorite view. It was showing signs of normalizing, but has now become more sharply i ...
  • Forexpro: Re; $NTRS Hi, Friends, The daily chart of $NTRS, as mentioned in my previous post, is attached. Have a great weekend!
  • Forexpro: ...
    I sold my restricted stock in $STT as soon as it became unrestricted some years ago. The company can still be a money machine, but it absolutely needs a steeper short end of the yield curve, as the business model revolves around Net Interest Margin. ...
  • indigo1948: @Forexpro $STT $UBS $BK $NTRS -good morning. I believe you have said $STT was your former employer if memory serves me correctly. Has their overall management team remained since your time with them?
  • Forexpro: @indigo1948 $STT $UBS $BK $NTRS Hi, Indigo1948, My time there is now a decade ago - time flies - and while some faces remain (Tony Bisegna, a capable guy who ran the forward desk, is now global head of FX), most are gone. Jay Hooley, a friend who was CEO for a decade, retired last year, and has been replaced by a Fidelity guy, Ron O'Hanley. I don't know Mr. O'Hanley, nor have I received much feedback on his tenure, to date. I'm sure that he's smart enough to grasp the business model. :-) Here's hoping that you're well, and thriving; all the best!
  • Forexpro: ...
    P.S. Brian Bedell, a reasonably prominent banking sector analyst at $DB, today cut $BK, $NTRS and (incongruously) $SCHW to "Hold" from "Buy". According to SeekingAlpha, his rationale is ongoing depressed valuations due to the prospect of Fed easing. ...
  • debeers: @Forexpro $BK $STT $NTRS $BX $BLK -Thanks for your, as always, insightful response. I am a Stevie girl. I always picture the Schwarzman eagle swooping down from the sky devouring clueless and unsuspecting prey.
  • Forexpro: Re: Banks, Yield Curve HI, Friends, Even the poor, beleaguered trust banks ($BK, $STT, $NTRS) are up by an appreciable amount on the day, but you'll note that the yield curve continues to be extremely unfriendly. The attached chart approximates the 10 year yield versus the 2 year. Only approximates, as it is based on futures rather than cash prices; I can't chart the latter intraday. Still, the trend remains pretty visibly "flatter", which is not the ideal environment for those looking to borrow short and lend long. We do get non-farm payrolls on Friday, although one number isn't likely to provide much relief even if it proves to be what the market decides is the "right" number. Hope your day is going well; all the best!
  • Forexpro: @debeers $BK $STT $NTRS

    Sorry, Lady DeBeers,

    I've been out and about, and missed your query. Now, is your interest in Blackstone/$BX/private equity, which is Steve Schwarzman's domain, or "The Death Star", aka BlackRock/$BLK/real money a ...
  • debeers: @Forexpro $BK $STT $NTRS -Forexpro---do you have an opinion on Blackstone. I figure that when things change, Fink will have already anticipated it. I decided that he can worry about my financial exposure. Thanks, Forex!
  • Forexpro: Re: $BK, $STT, $NTRS Hi, Friends, $BK is having a very rough session following earnings, and to an even greater extent, following the call. The opinion offered by management is that poor yield curve structure is (a) chiefly to blame for the bank's travails and (b) likely to persist for several quarters. The stock was overbought near term, but that appears to be getting corrected. It is possible that $STT and/or $NTRS (both down c. 3.5 percent as I type), which have core business models that are similar to $BK's, have managed their respective balance sheets more adroitly. We'll find out on Apr 23, when both report. At the moment, I'm hoping that my eldest, who works in wealth management for $BK, hasn't been stuffing her 401(k) with company stock. Here's hoping that your day is going well; all the best!
  • Forexpro: @champ $TNX $JPM $C Thanks, Champ, Although the level of the 10-year note, as an isolated piece of datum, doesn't matter so much as does the shape of the long end of the curve versus the short, since those levels represent, respectively (and very roughly) where banks can lend versus what it costs them to borrow. it's all about Net Interest Revenue, especially for the trust banks ($BK, $NTRS, $STT). At the moment, there is some steepening going on, although the absolute level is still no great shakes. At least it isn't flattening, at the moment. I've attached a chart of 10 year vs 2 year T-note futures, as I can't chart the cash market intraday. Here's hoping that all is well with you; cheers!
  • Forexpro: ...
    This custody bank and agglomeration of investment management firms was $STT's bitter rival during my time at the latter firm. Whereas $STT, mostly willy-nilly, ended up as a force on the passive management/ETF side, active managers are more $BK's fo ...
  • 1winkie: ...
    $NTRS was downgraded to Market Perform from Outperform at Raymond James. The 52-week trading range for the white glove bank is $75.96 to $115.61, and the consensus price objective is $102.53. The stock closed Wednesday at $89.93.

    $VALE was dos down ...
  • ginice: @1winkie $ADDYY $ALLY $CVI $CTL $FISV $KMB $LPSN $MDLZ $PANW $PG $APY $BT $DLTH $GRBK $NSRGY $NTRS $VALE $ZEN Thank you for taking time to post. Really helpful.
  • Forexpro: ...
    The people in HR at $STT must be tireless, as along with earnings, the company announced another 1,500 of what we used to refer to as "cost synergies", i.e. "layoffs". Management has changed, but the inability to think beyond cut ...
  • Forexpro: ...
    P.S. Kind of a silly headline on SeekingAlpha: "Bank of New York Mellon Q4: AUC/A slips by 1% to $33.1T". Well, yeah, assets under custody/administration are likely to fall in a quarter when stocks are off 14 percent. Under the circumstances, that q ...
  • Forexpro: ...
    Well, not the way outgoing CEO Jay Hooley (for whom I have a lot of respect) would have wanted to, well, go out, I expect. In fact, none of the more or less pure play custodial banks ($BK and $NTRS, in addition to $STT) have covered themselves with ...
  • Forexpro: ...
    $STT's business model revolves around sweeping the cash thrown off by $34 trillion of assets under custody, paying the overnight rate, and lending out to, say, the three month area (sometimes more, sometimes less, depending on the precise shape of t ...
  • grcjr: @Forexpro $STT $SPY $GLD $BK $JPM $NTRS Thanks for all your in depth posts. Have a great weekend.
  • debeers: $NTRS-Love the custody banks and picked up some for 106.97. Expecting up another 12 by year end with the relaxed financial rules and the additional leverage for the custodies. Wealth management is a great way to take advantage of the wealthy:
    Norther ...
  • debeers: @Forexpro $NTRS $JPM $C $BK $STT -Thanks so much, Forexpro
  • Forexpro: @debeers $NTRS $JPM $C $BK $STT You're Always Welcome, Lady DeBeers, By the bye, we're getting a decent pullback in the E-minis, and liquidity isn't what it was earlier. The contract is staggering higher from the 2652.75 low, and for all I know may just go racing back to the upside. It got pretty close to the 61.8 percent level (2652.25) however, suggesting that we may have already seen the session high. That "rule" hasn't been strictly observed by the obstreperous Ms. Market in recent days, though, so we'll have to see. I missed a long entry by a tick; not for the first time, but it's always annoying. Here's hoping that your day is green, and free of annoyances; all the best!
  • debeers: $NTRS-@Forexpro--I have been looking for a good custody bank and sorta like this one but haven't bought because you are my financial go to guy. Seems to me like they are doing all the right things.
  • Forexpro: @debeers $NTRS

    Hey, Lady DeBeers,

    Here's hoping that all is going well, apart from the Sox getting no-hit by the A's, of all clubs. Of the three banks that are generally considered custody banks (although it's a big business for $JPM, $C still tri ...
  • debeers: @Forexpro $NTRS $JPM $C $BK $STT/$BA and $EL -Your brilliance is only eclipsed by your unfailing kindness! I think the custodies and wealth managers benefit the most from proposed changes in financial regs but i am in no rush. Actually i cut $$$ in a ...
  • Forexpro: ...
    The un-Dodd Frank bill also provides some relief for the trust banks, $STT, $BK, and $NTRS. As custodians, they of course have tons of cash on deposit from institutions, much of which is placed on deposit at the Fed. These sums were considered asset ...
  • Forexpro: Re: Trust Banks Hi, Friends, Just wanted to mention, given the outperformance today of $BK, $NTRS and $STT, that fees related to basic custodial functions are based on assets under management, so these firms are, to some extent, leveraged to equity market performance. Gains in equity prices, other things being equal, lead to increased revenues for the custodians of institutional assets. $JPM, which is also having a very solid day, is likewise a major player in the space, but the business is less important to its overall results than it is to the other contestants. All the best!
  • champ: @Forexpro $WFC $BAC $NTRS $STT $BK #Day-6 --- Yes, I like all the banks and I target news and low risk entries....Thanks, for the post, I will take a look.
  • Forexpro: @champ $WFC $BAC #Day-6 Thanks, Champ, Not sure why - it may have to do with goings-on at the short end of the yield curve - but it's the trust banks that are outperforming today. $NTRS, $STT and (to a lesser degree) $BK are all having decent days. Here's hoping that you're doing well; all the best! P.S. Hmm, well, only $STT is outperforming $KBE thus far this year, although all are handily beating $SPY.
  • Forexpro: ...
    Just some thoughts; it's a changing world, and $BK, $STT, $JPM and $NTRS, or at least three out of the four, are competing for virtually each and every custodial contract. $BK has traditionally believed that victory goes to the low-cost provider; th ...
  • Forexpro: Re: $BK, $NTRS, $STT

    Hi, Friends,

    According to TheFlyontheWall, $C had nice things to say about the two largest trust banks:

    "State Street (STT) and BNY Mellon (BK) upgraded to Buy from Neutral at Citi, with analyst Keith Horowitz saying he t ...
  • Forexpro: ...
    I was admiring the daily chart of $STT earlier today, and wishing that I still received restricted shares on a regular basis. I also looked at the direct competitors, and the $KBE large bank ETF, since the beginning of the year. All ($BK, $NTRS and ...
  • grcjr: @Forexpro $C $MS $BAC $STT $GS $KBE $BK $NTRS $JPM I've owned some $STT in the past. I still check it but wish I had jumped back in. Best to you.
  • Spotdog: @Forexpro $AAOI $BK $STT $NTRS Thanks for the clarity Forexpro. I appreciate it
  • Forexpro: ...
    Hedge funds - the primary source of short interest - need to borrow shares in order to sell short. Normally, their prime brokers will simply go to the custodial banks - $BK, $STT, $NTRS - and pay a fee to borrow the shares of long only funds (mutual ...
  • Forexpro: Re: Financials Hi, Friends, A number of the "too big to fail" banks are off slightly today, but the trust (custodial) banks - $BK, $STT, and smaller competitor $NTRS - are outperforming. $BK and $STT are also among the "too big to fail" group. It must be tons of fun to try to manage a sales and trading group with Fed monitors running around all over the place. Hope your week is off to a great start; all the best!
  • Forexpro: Re: Banks Hi, Friends, A price alert was triggered in $BK; I've been thinking about buying it, but this doesn't look like a chart that is crying out to be purchased. All of the trust banks - $BK, $NTRS, $STT - are getting smacked around this morning, but all of the bulge-bracket banks are down on the day. $C is almost back to flat, and $GS and $JPM appear to be outperforming the bulk of the sector. Here's hoping that your day is off to a great start; all the best!
  • Forexpro: ...
    When I began watching an hour ago (7:30 EST), the E-minis were up 0.75; an hour later, they're plus 4.75, which would be (doing the math in my head) more, wouldn't it? Oil futures are significantly lower (52.58, down 1.28 percent) as are long bond f ...
  • Forexpro: ...
    $GS is holding its financial services conference, and a number of Forum Firms are giving presentations. $JPM and $WFC, along with my fave, $NTRS, present today, I believe, with $BAC, among others, due to present tomorrow. These things are always ver ...
  • bigbartabs: @Forexpro $GS $JPM $WFC $NTRS $BAC ... I'm guessing with the Euro near par with the dollar, my wife will soon be suggesting that we visit Europe again... and while over there... stop by Scotland again... high country... so she can take more grief for her heritage (maiden name Campbell). Ever since I learned all the nasty stuff about her family tree... I sleep with one eye open.
  • Forexpro: @bigbartabs $GS $JPM $WFC $NTRS $BAC LOL, Bigbartabs, Yeah, there won't be any bargains, but a trip won't be as ruinous at current levels. I've been thinking idly about a London junket; lots of friends there from the old days, and it has been a while. If you make it to Edinburgh, I'll give you the address that is on the spot where one of my relatives was unfortunate enough to be the last person burned at the stake in the city. Hoist a pint in his honor. If you think you're going, it might be worth taking a portion in at current levels. I have no idea what the people at the UK Supreme Court will do, but if they toss the Brexit vote out, there could be a spike on short covering while things get sorted out. What a mess. Hope you're thriving; all the best!
  • bigbartabs: @Forexpro $GS $JPM $WFC $NTRS $BAC ... I spent some time in Edinburgh. In fact I think my favorite Scotland castle was the Edinburgh Castle. Hard to beat that majestic setting. Burnt at the stake, eh? Sort of like trading stocks! ==:O
  • issues: @bigbartabs $GS $JPM $WFC $NTRS $BAC burned at the stake like trading stocks. Thanks for the laugh. I like that!
  • Gary: ...
    11. $NTRS -- -- broke out of flag. Target is $93.
    12. $SOXL – oversold rebound. Some semis are working…but not at

    Eats:
    13. $JACK – still working well.
    14. $PLAY – up 11% AH on great earnings.

    15. $ATW – 60% of f ...
  • Forexpro: @Lavrock $FAS $BAC $WFC $DB Thanks, Lavrock, I worked for a couple of banks that had lending relationships with Trump entities - he's had a lot, and they were pretty free about borrowing - and his companies tended to be pretty, check that, exceedingly bad about repaying the loans on a timely basis. That tends to make lending officers nervous. I don't know that the President-elect is overly fond of the banks with which he did business. $DB has plenty of challenges; my own view is that it's highly unlikely to go under, and current top management is very competent, but I think that there are other outfits better positioned to take advantage of any coming tailwinds. Just one (frequently wrong) guy's view, for what it's worth. Hope you're doing well. All the best! P.S. No position; net long $MS, $NTRS
  • DAN: @Forexpro $FAS $BAC $WFC $DB $MS $NTRS I heard that took, Forexpro. Not a great track record for repayment of loans in a timely basis.
  • janner0814: FYI @Alexandra: Pre-Market Earnings: $ABT, $APH, $ASML, $BABY, $BBT, $CP, $DOV, $GPC, $HAL, $MS, $MTB, $NTRS, $RAI, $STJ, $STX, $SVU, $TUP, $UNF, $USB Earnings after the Close: $ $AXP, $BDN, $BJRI, $BRKL, $BXS, $CATY, $CCK, $CLB, $CNS, $CTXS, $CVBF, $CVTI, $EBAY, $EGBN, $EGP, $EWBC, $EXPO, $FNB, $FTI, $GGG, $HLX, $HNI, $HXL, $KALU, $KMI, $LHO, $LRCX, $LSTR, $MAT, $PKG, $RLI, $SCSS, $SLG, $SLM, $STLD, $TBI, $TSCO, $UMPQ, $URI, $VMI, $WDFC, $XLNX $VXX $NUGT $XIV $SVXY #ETN #FEES #WIDOWMAKER
  • traderbren: $NTRS - seeing a bid. NP
  • Forexpro: @traderbren $NTRS Thanks, Traderbren, I'm out of this thing, not necessarily profitably, but I continue to keep an eye on it. It retraced to more or less precisely the 50 percent Fibo retracement, often a decent entry level. It doesn't seem to be quite out of the woods yet - that's a tall order at present for any large bank, even one that isn't too big to fail - and earnings are expected on Oct 19. I'm tempted, but standing aside at the moment. I recently made some money on a long $GS position, and don't want to press my luck. :) Here's hoping that you're experiencing good luck with all of your endeavors. All the best!
  • Forexpro: Re: $NTRS Hi, Friends, I continue to like the company represented by this stock, but the latter has not been kind to me, and I exited a net long position (short puts) a few minutes ago. That was not done at the day's best level. I'm still interested, and I have a couple of alerts (above and beneath) set. Here's hoping that your day is going well, or at least better than mine. The good news is that I'm too busy with other stuff to pay much attention. All the best!
  • Forexpro: Re: $NTRS

    Hi, Friends,

    This ticker is finally beginning to outperform peers $BK and $STT. Unlike the latter two, it is not considered "too big to fail", and it's combination of core businesses - high net worth wealth management plus custo ...
  • Forexpro: Re: Non-Farm Payrolls Hi, Friends, Just one addition to Dan's morning notes; despite the looming long weekend, the month's biggest number will be out on Friday. I'm referring, of course, to non-farm payrolls. Over the past year, non-farm payrolls Friday has been a pretty reliable payday, and I'll likely look to play it via the e-mini futures this week. A strong number will add to the perception that a Sep hike is really in play (I have my doubts, but I don't think that it matter much except to marketers of money market funds, e.g. $FII). Dan's point re: banks is well taken. I have a bit of $GS, and rather more $NTRS, but will be looking to add. The latter is in the process of reversing from a downtrend into the "up" version. Best of luck today!
  • captron: @Forexpro $FII $GS $NTRS That's a interesting point to consider. Thanks. Just took a look at $NTRS. That one is new to me. This is day 3 so we will see what tomorrow offers. Have a great week.
  • Forexpro: Re: $NTRS Hi, Friends, Took a new position in this longtime favorite via Oct 70 calls. The attached chart shows price candles, along with line charts for implied volatility (blue) and actual (realized) volatility(brown), which you'll note are quite low relative to their levels in the recent past. This being the case, I'm willing to pay some premium for somewhat out of the money calls with some time to expiry remaining. Here's hoping that your day is going well; all the best!
  • Forexpro: Re: $NTRS Hi, Friends, I continue to think that this bank, and its stock, are being treated unfairly (or "incorrectly") by the market, but as Dan frequently notes, the market doesn't appear to care. Hence, the alert, followed quickly by a fortuitous decision to exit. This could easily have turned into a long term hold, and an anvil. All the best!
  • Forexpro: ...
    Anyway, it will take some time for markets to find new equilibria, and there will be other things to discount (e.g. as Alexandra points out, there will be a new Prime Minister in the UK). Dan has warned us to remove stops (I don't leave stops, just ...
  • Forexpro: Re: Banks, $KBE Hi, Friends, The banks are getting hammered, and of course they have vastly differing exposure to the international (read: London) market. I'm long $NTRS, which like a moron I purchased on the back of the stress test results, congratulating myself on buying one that has relatively little involvement outside the U.S. Doesn't matter today, and it's the single biggest chink in my armor. I may dump it just so that it stops annoying me, but I do think that it deserves to trade at a premium to the group, and I'm reluctant to be unfair. :) Here's hoping that your day is proceeding well; all the best!
  • DrScience: @Forexpro $KBE $NTRS I'm hesitant to say: Do like the big boys. They just keep buying until the stock does what they want it to. :)
  • Forexpro: @DrScience $KBE $NTRS Hi, DrScience, Well, there's an obvious objection to that, but I'd have to display my little boy pants. When I was at Lloyds Bank, one of the battle cries when the desk was under water was "Average in like the big banks". It was meant ironically then, but I can't muster any irony. Here's hoping that you're doing well; all the best!
  • Forexpro: ...
    I don't suppose that it's mere coincidence that the only positions that are causing me annoyance today were purchased yesterday. I'm not too upset about $NTRS, which I'm pretty comfortable holding; I'm familiar with the fundamentals and the culture ...
  • FHS: @Forexpro $NTRS $BC I don't know whether to be heartened or dismayed at SMM's God of Wisdom's folly. What's that say for the rest of us? As for my folly, I too took a few positions yesterday and the day before, most notable $BIB, that I intended to liquidate prior to yesterday's close. Unfortunately, I decided to do some mountain landscaping which required a rugged old watch whose time I had neglected to change; alas, what I thought was 12;15, was actually 1:15 when I came in to check on the market and my positions! Alas yet again, I too came in to today with 80% cash, and in that regard, I am heartened to see that your wisdom has rubbed off on me over the years. Cheers.
  • Forexpro: @FHS $NTRS $BC $BIB

    Hey, FHS,

    Well, despite the watch snafu, having 80 percent cash provides more than a bit of comfort. Still, whatever I've covered myself in today doesn't have an odor at all like the whiff I had anticipated getting from glory. ...
  • FHS: @Forexpro $NTRS $BC $BIB Barnyard aroma's good for tasty red burgundy, at least. Yes, traded in rattlesnakes for bears. "After all, tomorrow is another day." Hmm, that does sound familiar. Cheers.
  • Forexpro: Re: Banks Hi, Friends, I haven't seen any analyses of individual banks, but the overall results look very good indeed, with the Fed making purring noises. I'm only long $NTRS; that will have to do. All the best!
  • Forexpro: ...
    Downsides: Large moves higher will be missed, as the stock will be called away. Large, rapid moves lower can be problematic, as we typically don't want to own additional shares via short puts. Story problem: I made a mental note to take a look at $B ...
  • Forexpro: @Forexpro $TWTR $BEAV $NTRS

    Sorry, Bigbartabs,

    Here's a better example, although I prefer something that pays a dividend. $GDX closed at 25.11, although it's currently marked quite a bit higher. Buying the stock at that level, plus selling Jul 25 ...
  • bigbartabs: @Forexpro $TWTR $BEAV $NTRS ... amplifying returns with options... thanks buddy. No worries on delay. I often have exactly the same problem of getting the time to keep current on the forum. Something I hope to remedy as time goes on... and I wee ...
  • Forexpro: @bigbartabs $TWTR $BEAV $NTRS You're Always Welcome, Bigbartabs, And yes, what I meant to say (and should have said) was "If both options expire". I generally - almost always - look to do monthlies, due to the generally superior liquidity and (vitally) tighter bid/ask. All the best!
  • Forexpro: Re: $KBE Hi, Friends, As indicated by this bank index ETF, the larger banks are, for the most part, getting smacked around today. I'm long $NTRS, which is getting smacked around. Here's hoping that your day is off to a good start; all the best!
  • DAN: @Forexpro $KBE $NTRS When the banks are down...the bears are growling. Banks are down. 8-\
  • Forexpro: Re: #E-MiniFutures Hi, Friends, While I've done a couple of trades in previously selected stocks today ($MSFT, $NTRS) I haven't been paying much attention to the market. To my mild surprise, the E-mini contract is back at the day's high, which was established in the very early going. It should serve, at least initially, as resistance. Here's hoping that your day is going well; all the best!
  • Forexpro: Re: $NTRS Hi, Friends, This Chicago-based custodial bank and wealth manager doesn't get much attention, but is outperforming its larger rivals, $BK and $STT. EPS came in at 1.01 versus expectations of around 0.95, revenue $1.19 bn vs a consensus of $1.18 bn. Return on average common equity of 11.4 percent is far superior to that of other reporting banks that I've noticed. The stock is having a good day. I'm long a modest amount of stock. Hope your day is going well; all the best!
  • Aragorn: A few stocks that are working nicely and worth watching for an entry $IP inside day per my weekend discussion on those rev strat weeks and up many are working nicely $CMI $IRBT $NTRS $DBD $PG ( inside day ) $SDRL - ( Inside day ) $SBNY
  • Aragorn: @hunter2 $SPX $AFSI $APD $CMI $DBD $GS $IRBT $NTRS $PG $SBNY $SDRL $SEDG $ANGI $EARS $CASY $CEMP #T2108 #Thoughts Hunter I meant to mention to you Dan in his note this AM and tonight's vid he mentions the 61.8 fib and that corresponds with the November pivot high. So Dan answered my Question J
  • hunter2: @Aragorn $SPX $AFSI $APD $CMI $DBD $GS $IRBT $NTRS $PG $SBNY $SDRL $SEDG $ANGI $EARS $CASY $CEMP #T2108 #Thoughts
    Hey J: Thanks, that makes it more clear for me as well. I wasn't so sure that I had the Fib placed correctly.

    Forexpro has taught me ...
  • Aragorn: ...
    A mutual friend of ours warned of a reversal on Friday and I mentioned to him that many actionable signals have triggered to the upside and while we may get a pullback I do not think it will be a big one. ( I am not sure I conveyed that last point ...
  • Tr8dr: @Aragorn $SPX $AFSI $APD $CMI $DBD $GS $IRBT $NTRS $PG $SBNY $SDRL $SEDG $ANGI $EARS $CASY $CEMP #T2108 #Thoughts --- Thanks for the list and thoughts Aragorn!
  • hunter2: @Aragorn $SPX $AFSI $APD $CMI $DBD $GS $IRBT $NTRS $PG $SBNY $SDRL $SEDG $ANGI $EARS $CASY $CEMP #T2108 #Thoughts - That's crappy losing a long post. It's happened to me, so now I highlight and copy the text, especially if it is a long post.

    Re Fib ...
  • champ: @hunter2 $SPX $AFSI $APD $CMI $DBD $GS $IRBT $NTRS $PG $SBNY $SDRL $SEDG $ANGI $EARS $CASY $CEMP #T2108 #Thoughts - Well thats OK the way you said it ....the Generals are moving the privates forward and are battling it out every day now for the past 16 trading days and have been winning....but you always HAVE to remembered the market is moving higher because of the News Flow ...like the dollar falling which is moving all commodities higher. The Saudis could say something and drop the market....and that would be new news. I'm a trader who trades on news but always with an eye on chart levels for risk management. LOL
  • tri2insite: @Aragorn $SPX $AFSI $APD $CMI $DBD $GS $IRBT $NTRS $PG $SBNY $SDRL $SEDG $ANGI $EARS $CASY $CEMP #T2108 #Thoughts I don't know about the Fib question but that was a excellent choice of Who music.
  • Forexpro: Re: $STT, $BK, $NTRS Hi, Friends, I put on a pairs trade, long $STT, short $BK, on Sep 1. at 1.83. It's "working", although it's hardly getting me rich quickly. I have other stuff that I'm holding/watching, and this is one more thing than I want to pay attention to. I'm consequently closing it. If the Fed hikes, and indicates that it's inclined to keep hiking - not at all what I'm expecting, at least as far as the latter is concerned - the custodial bank stocks will have their day. I still prefer $NTRS to either of these. http://schrts.co/xHHd8x http://tinyurl.com/pr4933a Here's hoping that your day is going well; all the best!
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