Posts Tagged ‘Financial Services’

Bank of America branch in Washington, D.C.

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Bank of America (BAC) is a SELL!!

Bank of America has a 52 week High of $15.31, and a Low of $5.66. Today Bank of America has hit its year low, and I would not be surprised if this stock continues to FALL, and Quickly. After its announcements on Debit Card Fees, and all the Law Suits it is currently Facing, I do not see how anyone could want to even take the Gamble, you are better off putting a match to your cash than investing it with Bank of America. All I have to say is TO BIG TO FAIL?

Over the coming months ahead, I would not be Surprised if Bank of America, Turns into a $4.00 Stock especially with all the Crisis’s all over the world with Banks. Financials are a Stay away right now.

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The Goldman Sachs Tower - Jersey city, NJ.

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With the U.S. Government wanting to do an internal investigation into the financial crisis, and Goldman Sachs (GS) I expect financials to take a major hit over the coming days and weeks ahead. Goldman Sachs CEO Lloyd Blankfein has decided to take it into his own hands and hire Reid Weingarten a highly known attorney of who represents clients in high profile cases of whom are believed to of done some type of corporate wrongdoing. With Lloyd Blankfein taking it into his own hands to hire a lawyer it is obvious that there could be a potential push to investigate the firm as well as its executives on criminal grounds.  When the news was released that Blankfein had hired a lawyer, Goldman shares closed down $5.25 (4.7%) to $106.51. In the after market stock continued to drop $1.27 (1.19%).

Goldman Sachs of which is one of the most known names on Wall Street has been in the news, and under distress since the financial crisis because of their record profit this year. Profit of which was generated during some of the worst of times for all of the economy. So far all the investigations have not involved criminal charges, and have all settled without Goldman having admitted to no wrongdoing.  Something to note is almost 1 year ago Goldman paid $550 million to Securities and Exchange Commission to settle the charges that it helped create low-quality mortgage backed securities of which they had knowledge that they would fall in value.

What I think gets me the most is the fact that it has TAKEN this long for government to look into everything. When I say this, meaning Goldman Sachs is not the only ones of who need to be under investigation. All the major Banks including (J.P and Morgan)(Bank of America)(Wells Fargo) just to name a few. Not only were they all involved in the reason for the Crash of the Market in 2008 but they were all the ones who allowed this to happen. Just watch “The Last Days of the Lehman Brothers”  Not only did these banks take the money from the government in 2008 but they completely used it against the USA and us the PEOPLE to SCREW US! Now the BANKS control Everything and it is about time for them to take the blame for what they did and put the ones of who were involved in it into prison.

I expect that the coming days ahead will be vary big! Especially in the Financial Sector. If there is any news that breaks of Goldman (GS) admitting to wrong doing, CEO Lloyd Blankfein may have to tell them what he really knows. Meaning he may announce news of which could involve other Banks!  Imagine if all these banks get investigated and are found guilty.
Currently Goldman Sachs (GS) is a Complete SELL SELL SELL. It would not surprise me if we see Goldman Drop into the Low $90.00 by the end of today. Personally I would stay away from all Financials. I expect a SELL OFF of all major Banks until this matter gets handled.

Disclosure – Currently do not hold a position, nor plan to hold a position in Goldman Sachs or any other Financial Sector within the next 3 trading days. Some of the information of which was used for this post can be found at http://www.latimes.com/business/la-fi-blankfein-goldman-20110823,0,2783618.story

General Electric Company (GE) a technology and financial services corp. The products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. It serves customers in more than 100 countries.

As of right now (GE) General Electric is up $0.11 or 0.59 % on news of GE Capital and securing a vary large contract. Another reason for (GE) General Electric to be up is their earnings will be released in two days. With (GE) beating projectors EPS earnings the past five quarters you wonder, and an increase in the dividend the past 3 quarters, their just a few of the big reasons why you should get in with (GE). Over the past few months (GE) has been floating in the $19-20 dollar range to a low in the high $17’s. With (GE) 52 week low being $14.25, for the past 6 months (GE) has stayed above $17.75 there is no reason to delay in buying this Stock. The Dividend is probably going to increase again, and the yield is better than most companies can offer. I am have (GE) as a BUY rating or a HOLD rating. If the earnings that come out in two days have any solid positiveness to them there could be a large jump in the stocks. I feel EPS, Sales Net will increase, and for Sales it could be the first time positive numbers come out rather than this disappointing negatives.

 (GE) General Electric will  always hold a world dominate power because of how big they have become. I know most do not think it is possible for their to be a split of the company, but I think there is much talk of it. If this was to happen (GE) could really jump back into full swing and be one of the top 10 stocks for the next 30 years again. Only time will tell.

(At this time I do not hold a position in (GE) General Electric.