Financial Movers Podcast #32
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Bitcoin has broken out
Microsoft Play from last Friday
1. Bitcoin Breakout: #30, posting on Twitter
Posted BTC chart and symmetrical wedge trade idea last Wednesday, July 22 on Twitter, Facebook, and talked about it in last Wednesday’s episode #30
Now trading at: $11,229 (+20%, +$2k) since called at $9,327
2. Microsoft Play From Last Friday: Episode #31 (07/24/20)
- 2x leverage index: ^NY2LMSFT
3. Bank Stocks: Episode #25 (07/10/20)
Morgan Stanley (MS): +1.58%
JPMorgan (JPM): +3.54%
Wells Fargo (WFC): +1.21%
Bank of America (BAC): Investment banking and financial services, They have 4,600 retail financial centers, +16k ATM’s, and it services approximately 10.73% of all American bank deposits.
HUGE. $2.4T in assets making BAC the 2nd largest bank in the U.S., 9th largest financial institution in the world.
Reported disappointing Q2 earning July 16
Beat earnings, revenues fell 3% year-over-year, net interest income dropped 11% and net profits plunged more than 50%
Makes sense that their stock is at 25.27 trading 41% below its 52-wk high of 35.72
But better times are ahead, everything they reported is what happened, not what will happen. Maybe I’m optimistic?
Buffett investing = good sign
Buffett has purchased 998.1 million Bank of America shares, according to an SEC form. The shares are worth nearly $25B, which makes Buffett Bank of America’s top shareholder
Trading at 11.3% from analyst avg price target of $28.14
I see BAC going to $30, which is +18.7% away