Two Ways To Play: Bad Grade For American Express?
Strengthen your portfolio in good times and bad.
Analyst Blaine Frantz wrote in a note that AXP may suffer further loan losses "particularly within geographic markets in the United States that have experienced sharp home price declines."
The stock saw heavy selling after the news hit the tape. AXP finished the day down -4.19% to $36.40.
See Professor Andrew Jeffery's Investors Quietly Flee Credit Card Debt.
From the Bull Pen: SVB Financial Group (SIVB) seems to be the best financial play. Todd mentioned that even MasterCard (MA) and Visa (V) seems like they may be victims of the slowing global growth theme. Bulls can enter SIVB at the $55 mark with tight sell-stops below.
From the Bear Cave: Bears can press the downside in AXP on the belief that the stock could see accelerated selling should it break multiyear support at $35.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter