Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (225887)	10/23/2009 10:42:17 AM
From: saveslivesbyday	Respond to of 306849

No support for COF until it gets back to 39.97 - I'll cover at 40

To: patron_anejo_por_favor who wrote (225887)	10/23/2009 10:46:14 AM
From: ChanceIs	Read Replies (1) \| Respond to of 306849

You been shorting the burrito? Or should I say is it you driving it down??? I did well shorting Oct calls but then didn't look back.

To: patron_anejo_por_favor who wrote (225887)	10/23/2009 10:47:40 AM
From: orkrious	Respond to of 306849

Short COF at 42.20. Will sell more if they get to 43. I joined you. My first dark side play in a long time.

To: patron_anejo_por_favor who wrote (225887)	10/23/2009 4:00:25 PM
From: orkrious	Read Replies (1) \| Respond to of 306849

I covered my COF for 80 cents. That ensures it will go to Reaper's favorite number for you.

To: patron_anejo_por_favor who wrote (225887)	11/9/2009 2:18:52 PM
From: Peter V	Read Replies (1) \| Respond to of 306849

Credit-Card Shares Rise As Comments Firm Up Credit Cycle 1:06 PM ET 11/9/09 \| Dow Jones By Kerry Grace Benn Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of credit-card companies rose Monday, a move one analyst attributed to comments made last week regarding the potential end of the credit downturn. Several companies presented at the BancAnalysts Association of Boston Conference on Friday, and Jefferies analyst Richard Shane said the takeaway is that credit deterioration won't be as bad in the next few quarters. "Finally we have a boundary on how bad things are going to be," Shane said, adding the downturn was worse than we expected based on charge-offs heading into the cycle but hasn't been as bad as the most bearish expectations. Capital One Financial Corp. (COF) had been pretty reluctant along the way to call an end to the credit cycle, Shane said, but is now starting to say it sees relief based on smaller-than-expected peak-to-trough declines in the S&P Case-Shiller home price index and the proposed extension of the homebuyer credit. At the conference, Capital One Chief Financial Officer Gary Perlin said there is a light at the end of the tunnel, but it wasn't clear how long it would take before the company gets there. He added investors and analysts should watch what's going on in hours worked and indicators related to how long it takes people to find jobs as signs pointing to how quickly it could emerge from that tunnel. Perlin said the company must make sure it focuses on managing credit aggressively and recognizing problems as early as possible, as well as managing costs aggressively and thoughtfully, since it isn't quite sure yet what it will take to emerge from the cycle. Building and maintaining a strong balance sheet and focusing on the most resilient businesses are also key, he said. Hours worked in the private, non-farm sector increased to 99.5 in October from 98.9 in September, but fell sharply from 106.2 a year earlier. Capital One's shares were up 5% to $39.56 in recent trading. Shane added the companies have spent the last few months tightening underwriting and consumers are altering their behavior as well, realizing they've gotten overextended and becoming more disciplined. The companies presenting at the conference basically said things were in line with expectations, and while the credit cycle isn't markedly better, it no longer seems to be deteriorating nearly as fast, he said. Both Capital one and Discover Financial Services (DFS) also entered the market with issuances Monday - Capital One offered a benchmark-size registered trust preferred securities deal, while Discover said it will offer subordinated notes. It didn't give a deal size. Discover also reaffirmed its guidance for its fourth-quarter net charge-off rate to be 8.5% to 9%. Discover's shares were up 5.8% to $15.37, while American Express Co.'s (AXP) were up 4.9% to $39.03.