JPM Beats Estimates On Trading Revenue – That’s TRADING!

April 16th, 2009

First things first. I actually got a chance to meet one of my members face to face last night at the Tea Party. Very smart young man with a great family – Thanks Edward! Again, this just reminds me how grateful I am to have such amazing people stop by this site each and everyday.

 

Moving on to my morning frustration. I am continually amazed at how most – not all – people think that all these big banks do is make loans and “invest” in the markets. Of course they do much more than that; including running their own trading desks for profits. Since I have worked for these big guys in the past you can trust me that there are floors and floors in their buildings strictly devoted to day trading and market speculation. Hundreds of traders go to work each day doing exactly what we are doing from the comfort of our homes. So, if it’s good enough and profitable enough for those fat cats on Wall Street, don’t you think you should get a piece of the pie too? Ahem…OF COURSE YOU SHOULD! JPM made their money this quarter off trading revenues – TRADING REVENUES NOT “BUY AND HOLD REVENUES!” There is clearly money to be made out there in this profession for those who have the right strategy and direction.

 

Okay, morning thoughts. Futures were still acting skiddish this morning following what could have been seen as great financial news. As most of you know, members and I got into a couple more amazing short trades and took advantage of the semi-boring trading day. I’m really excited about the opportunities on these positions given how far most of them have run up recently – over 100% on most. Clearly a correction is needed – of at least 15-20% – on most of these stocks which is where we are going to make money. As far as the S&P is concerned, we still have not hit any of my intra-day targets yet. This sideways actions is more than likely causing a lot of stress for those “quick buck” traders. Still, a move down to 800 is pretty much a no-brainer for a continued move higher.

 

spx7

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One Response to “JPM Beats Estimates On Trading Revenue – That’s TRADING!”

  1. The Heart Of Earnings Season - GOOG, GE, Citi All Beat | The Bullz And Bearz Says:
    April 17th, 2009 at 5:22 AM

    [...] are your updated S&P targets. If you look back at yesterday’s morning post, my target resistance level was 871 and the high of the day was 870 before the market pulled back. [...]