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Two Ways: JPMorgan Seeks Its Independence


Strengthen your portfolio in good times and bad.


In a sign credit markets may be easing, JPMorgan Chase (JPM) said it plans to sell $3 billion worth of 10-year notes to investors without the backing of the US government for the first time since last August.

According to Bloomberg, the second largest US bank by assets is testing the debt markets ahead of the release of the government stress test results to prove its strength and viability.

The bonds are expected to yield 350 basis points above 10-year Treasury notes.

This morning, JPMorgan reported fiscal first-quarter earnings of $0.40 per share, which was $0.08 better than Wall Street expectations. Revenues also came in at $25.03 billion, above $22.95 billion consensus.

For more on the economy, read Jack Lavery's Dissecting the Economic Data.

From the Bull Pen: Bulls can look elsewhere. Buy the dip in Potash (POT)? One can fade (read: buy) this into $85. A sell stop can be set 2% below that level.

From the Bear Cave
: Keep an eye on MasterCard (MA). The stock has underperformed relative to the S&P for the last few days. Although tomorrow may be a dangerous day to be short (expiration Friday as well as the weekend), see how the stock reacts near $165 overhead resistance.

Thirsty Thursday, Minyans. Have a great night!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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No positions in stocks mentioned.

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