d******8
发帖数: 1972 | 1 http://www.cnbc.com/id/45886791 No Substance Behind Bank Stock Surge?
Despite jitters in the market, strength in the banking sector [XLF 13.48 0.
18 (+1.35%)
] trumped weakness elsewhere and pushed the S&P [.SPX 1281.06 3.76 (+0.29%)
] higher for the third straight day.
Traders on the floorsuggestedthat gains were largely due to a growing belief
that the government was about to unleash serious firepower in its attempts
to put a floor underthe housingmarket.
According tothose reports the White House has a massive refinancingplan
inthe works – tothe tune of $1 trillion.
However CNBC’s Diana Olicktells us, “I’ve just been been told by
administration officials theyare not consideringa $1trillionrefinancing
program.” She goes on to say, the idea wasn't even new; it’s been tossed
around for 3 years.
“But the market is ripe for this kind of rumor,” saythe Fast Money traders
inresponse to the developments.
The sectorhas been so weak, investors want to be believe that the tide has
started to turn - and they want to get in, ahead of what could be a massive
rally. Even market rumors are enough totrigger buying.
“The Street is very willing to believe it,” adds Jon Najarian. “Options
action in Bank of America,” have been very bullish.
Does that mean bank stocks are on the brinkof a sell-off? Not necessarily.
Trader Brian Kelly says another major factor driving gains in bank stocks is
“the Bernanke letter and the white paper from the Fed – a program in
which the foreclosed homes get off the balance sheets of banks and rented
out."
On Wednesday, Federal Reserve Chairman Ben Bernanke wrote a so-called ‘
white paper’inwhichhe said foreclosed properties should be converted into
rental units.
"Just the potential for that kind of program is enough to generate and
sustain a rally," Kelly says.
To support his thesis - he says it wasn’t only the banks that traded higher
, so did the Homebuilder ETF [XHB 18.03 0.45 (+2.56%) ] and USG [USG 11.39 0
.69 (+6.45%)
] , a maker of building materials. “That shows it was the white paper and
not the refi chatter that the market reacted to.”
Kelly also expects to see strength in Lowe’s [LOW 26.37 -0.10 (-
0.38%) ] and Home Depot [HD 43.09 0.35 (+0.82%) ] on the news. “People will
come in and fix up thosehomes.”
Trader Tim Seymour sees another reason that banks may continue to rally. “
Simple rotation into laggards,” he says. “Deutsche had a note out that
said bankswould surpriseontheir numbers – better loan growth –
bettermortgage revenue – better credit conditions.” As far as he’s
concerned that’s a buy signal.
What do you think? We want to know!
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Regional Banks for Value New Affection for 3 Unloved Chips Stocks Najarian
On Selling Yahoo Calls to Boost Dividends Play Financial Sector with These 3
Banks Stocks: Fast Pros Pros Pick Philip Morris, Lorrilard On Altria Drop
Strategist: Stocks to Trounce Treasuries In 2012 Jon Najarian’s Top 5
Predictions for 2012
Super Traders Slideshow Daily Poll: Tell Us What You Think! Word On The
Street
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Trader disclosure: On Jan 5, 2011, the following stocks and commodities
mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by
the "Fast Money" traders; Terranova owns APC; Terranova owns OXY;Terranova
owns XOM; Terranova owns VRTS; Terranova owns IBM; Terranova owns CSCO;
Terranova owns AXP; Terranova owns SBUX; Terranova owns CSX; Terranova owns
SWN;Terranova owns AXP; Najarian is long call spreads AAPL; Najarian is long
call spreads BAC; Najarian is long call spreads C; Najarian is long call
spreads JPM; Najarian is long call spreads ORCL; Najarian is long call
spreads DNDN; Najarian is long call spreads PNC; Najarian is long call
spreads FDO; Najarian is long call spreads DLTR; Najarian is long call
spreads DG
For Scot Ciccarelli No disclosures
For Dana Telsey No disclosuresh
For Brian Kelly Shelter Harbor Capital is long KRE, Shelter Harbor Capital
is long IWM Shelter Harbor Capital is long GLD Shelter Harbor Capital is
long SLV Shelter Harbor Capital is long XLU Shelter Harbor Capital is short
Yen Shelter Harbor Capital is short Yen Pound Shelter Harbor Capital is
short Yen Swiss franc Shelter Harbor Capital is short Yen UTX Shelter Harbor
Capital is short Yen CS Shelter Harbor Capital is short Yen UBS Shelter
Harbor Capital is short Yen EWY
For Scott Nations Nation is long BAC Nation is long C Nation is long SPY
For Dan Dicker Dicker is long crude oil futures Dicker is long TSO Dicker is
short call options
For Chris Whalen No disclosures
For Kulbinder Garcha Credit Suisse is a market maker in securities of NOK
CNBC.com and wires
© 2012 CNBC.com
TOPICS: Housing | Stock Picks
COMPANIES: Home Depot Inc | USG Corporation
Published: Thursday, 5 Jan 2012 | 6:37 PM ET T | d******8
发帖数: 1972 | 2 “The Street is very willing to believe it,” adds Jon Najarian. “Options
action in Bank of America,” have been very bullish.
Does that mean bank stocks are on the brinkof a sell-off? Not necessarily.
F “The Street is very willing to believe it,” adds Jon Najarian. “Options
action in Bank of America,” have been very bullish.
Does that mean bank stocks are on the brinkof a sell-off? Not necessarily.
F |
|
