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May 9, 2005
Consumer financial services hit wall?, Mon., May 9, 2005, 8:13 AM
This weekend, in my Week #18 in Review, I wrote up a negative piece on American Express (NYSE: AXP). This morning, the 3-month U.S. T-Bill yield has zoomed, flattening the yield curve, thereby putting more pressure on the consumer financial services stocks.
I think these stocks have hit the wall, and ought to be sold.
ﾃつｷ Fannie Mae (NYSE: FNM) $55.03
ﾃつｷ American Express (NYSE: AXP) $55.00
ﾃつｷ Freddie Mac (NYSE: FRE) $62.09
ﾃつｷ SLM Corp (NYSE: SLM) $48.31
ﾃつｷ Countrywide Financial (NYSE: CFC) $35.94
ﾃつｷ CIT Group (NYSE: CIT) $40.47
I categorize traders in the following five groups, depending on their time horizon:
ﾃつｷ Intra-day i.e., < 5 session hours
ﾃつｷ Intra-week i.e., < 5 session days
ﾃつｷ Intra-month i.e., < 18 session days
ﾃつｷ Intra-Year i.e., < 250 session days
ﾃつｷ Extra-year i.e., > 250 session days
My downgrade for consumer financial services (most of which are in GICS sub-industry 40202010) applies across all time horizons.
Posted by Posted by Bill Cara on May 9, 2005 08:31:03 AM | Category: 40 Financials
Are gold stocks trying to bottom here or is this just a one day wonder, safe haven with rumors of hedge fund incineration?
Posted by: Alan at May 10, 2005 1:24 PM [link]