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It's setting up to be a bad morning for financials. Barclays (BCS) -8.6% premarket as pressure...

It's setting up to be a bad morning for financials. Barclays (BCS) -8.6% premarket as pressure grows for Diamond to quit, and JPMorgan (JPM) -5.2% on reports its trading loss could hit $9B. Perhaps in sympathy, other financial names are also dropping, outpacing the pullback by S&P futures: BAC -1.5%, MS -1.15%, C -1%, WFC -1%.
Comments (11)
  • Pinocchio1
    , contributor
    Comments (206) | Send Message
     
    In both cases there should be criminal investigations.
    In the case of Dimon - about truth telling to congress(?)
    In the case of Diamond - organized crime
    28 Jun 2012, 06:40 AM Reply Like
  • remurraymd
    , contributor
    Comments (2287) | Send Message
     
    We predicted this months back risk is infinite Dimon is not out.
    Now engulfed in a new LIBOR scandal
    Buyback suspended they will not even buy their OWN stock.
    Why should we? NEVER bottom fish an dNEVER try to catch a falling knife.... Peter Lynch
    28 Jun 2012, 06:41 AM Reply Like
  • rambler1
    , contributor
    Comments (438) | Send Message
     
    The $9 bil figure for JPM was out a few days ago & nobody seemed to have seen it then. This biz has become b.s.
    28 Jun 2012, 08:01 AM Reply Like
  • AZ Desert Trader
    , contributor
    Comments (239) | Send Message
     
    agree with ron. We all knew the risk of losses was higher than $2B. JPM is not going away.

     

    I hope it falls off a cliff today so I can buy more.

     

    Long JPM.
    28 Jun 2012, 08:33 AM Reply Like
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    Roughly speaking...

     

    JPM tanked 32% after Jamie disclosed the bad position.

     

    JPM recovered 18% of that decline as of yesterday.

     

    Dumb bad news got printed.

     

    JPM is off 4% today while WFC is off over 2%.

     

    Jamie told Congress that JPM would be solidly profitable this quarter.

     

    Is anybody buying call options on this wiggler?
    28 Jun 2012, 12:11 PM Reply Like
  • Upticrule
    , contributor
    Comments (4) | Send Message
     
    Give us all a break, will ya? You guys got a short on JPM, so blah ..blah ..blah. Go jump in the lake of despair with the rest of the losers. I bought a few hundred more shares this morning because my time horizon is longer than 30 minutes. By the way, why would anyone want to listen to someone about JPM stock when they can't spell Mr. Dimon's name right?

     

    SP
    28 Jun 2012, 02:13 PM Reply Like
  • Ronin.
    , contributor
    Comments (1487) | Send Message
     
    Wow! 2 comments and you are already talking like a troll...
    29 Jun 2012, 12:44 AM Reply Like
  • Ronin.
    , contributor
    Comments (1487) | Send Message
     
    Btw, uptickrule,

     

    JP Morgan - Jamie Dimon...before Congress
    ...Barclay's - Bob Diamond...before British Parliment

     

    You're totally clueless, tone down the arrogance and listen more before talking...
    29 Jun 2012, 03:35 AM Reply Like
  • Upticrule
    , contributor
    Comments (4) | Send Message
     
    Had to go look that up I guess,didn't you Mr Troll want a be.
    1 Jul 2012, 01:01 AM Reply Like
  • Ronin.
    , contributor
    Comments (1487) | Send Message
     
    No, didn't look it up...these are headline news items, well known.

     

    I find it strange though that you just joined SA, and on your second post, you're calling others losers and implying that their comments are dribble...

     

    No apologies for being wrong or unpleasant?
    1 Jul 2012, 01:34 AM Reply Like
  • Upticrule
    , contributor
    Comments (4) | Send Message
     
    My bad on that! I miss spoke because I skimmed through the posts here hurriedly and after seeing the Dimon name spelling butchered repeatedly in the JPM blogoshere of late, I assumed it was so again here. As for the term "losers" in my comments, it refers to financial "loss". What else would it refer to? Financially speaking, betting against JPM is not a good long term strategy and will make you a "loser" in the financial sense. Just my opinion. If any of the original JPM commenters misunderstood my point or how I expressed it, I certainly apologize to them.

     

    Last point. This is a financial opinion website and sorry to hand you the bad news, but it is not your job to decide who is worthy to post comments or to critique their intent, so knock it off. My initial comments were generic in reply to some JPM bearish comments posted. Your comments on the other hand had nothing to do with JPM, but were just personal and insulting. So you need to take your own advice, tone down your own arrogance and listen more before writing and you will be better received. I will do the same.
    1 Jul 2012, 05:18 AM Reply Like
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