JPM - JPMorgan Chase & Co - Page 2

15 oct 40 @2.88 sold @3.20

good job

looking for a hedge put @ this 40.50 level

sold all calls

damn bsturds stopped me out
I'll be back looking for an entry tomorrow if it's a bloody Friday

Picking up a few Oct calls here

Fate of remaining big brokers in focus after Lehman collapse
4:57 PM ET 9/15/08 | Marketwatch

SAN FRANCISCO (MarketWatch) -- The collapse of Lehman Brothers and the sale of Merrill Lynch have left questions about the future of the last two major, independent Wall Street brokerage firms, Goldman Sachs and Morgan Stanley, experts said Monday.

Goldman shares dropped 12% to close at $135.50, while shares of Morgan Stanley fell 14% to $32.19. The firms are expected to report quarterly results in coming days. See outlook.

Credit default swap spreads on Morgan Stanley (MS) rose 177 basis points to 452 in morning action, while spreads on Goldman (GS) widened by 119 points to 317, according to New York-based Credit Derivatives Research.

The CDR Counterparty Risk Index, which tracks credit-default swaps on leading banks and brokerage firms, jumped 89 basis points, or 40%, to 305.4. That's a record, CDR noted.

Lehman (LEH) filed for Chapter 11 bankruptcy Monday after 158 years as an independent brokerage firm. See full story.

Merrill (MER), one of the world's largest brokerage firms, agreed to be acquired by Bank of America (BAC) in a deal that was hurriedly put together over the weekend. See full story.

Those developments followed the March bailout of brokerage firm Bear Stearns, which was acquired by banking giant J.P. Morgan Chase (JPM), with help from the Federal Reserve.

The three developments highlight the pressure on the brokerage industry. Unlike commercial and retail banks, which can rely on steadier sources of money from customer deposits, these firms have to borrow the money they need to do business in private markets. When customers and trading partners lose confidence, it can amount to a death knell.

Goldman and Morgan Stanley, the two largest U.S. brokerage firms, have weathered the credit crisis better than Lehman, Merrill and Bear.

However, some experts questioned the brokerage-business model Monday, arguing that firms may be better off as part of a larger commercial bank with access to deposits. See full story.

"We are now worried about the fate of the investment-banking industry as three of the top five independent investment banks either collapsed or were forced to be taken over," said Larry Tabb, chief executive of consulting firm TABB Group.

"Without doubt, the investment-banking industry will never be the same," he added in a note to clients. "The days of the all-in-one global investment bank may be nearing an end."

The events of the past weekend are highly significant because they will shift the securities industry closer to commercial banks, said Steve Thel, a business law professor at Fordham University and a former lawyer for the Securities and Exchange Commission.

Morgan Stanley may seek to sell itself to a bank because the Bank of America acquisition of Merrill has created a tougher competitive environment, David Hendler, an analyst at CreditSights, wrote in a note to investors.

"Goldman Sachs may be able to control its destiny more and seek to purchase its own bank if it needs to increase that funding base," Hendler added.

Matthew Albrecht, an analyst at Standard & Poor's Equity Research, cut his rating on Goldman shares to hold from buy Monday.

"Following a weekend that saw one peer acquired and another enter bankruptcy, we are more cautious on shares of Goldman," the analyst wrote in a note to clients. "We continue to believe it has performed better than peers through sound risk management and prudent executive decisions, but we also think the crisis of confidence within its industry has failed to separate good performers from bad.

"We expect continued uncertainty surrounding the company and the industry to weigh on the shares," he added.

Merrill Lynch spreads narrowed by 130 points to 325 after Merrill agreed to be acquired by Bank of America.

Picked up calls through Jan in the AM selloff
set an alert for under 38 to possibly shop some more

also picked up some long term cheap puts to hedge a little

sold a few of the Sept calls for profits

Well, thanks to proper market maker manipulatiom , of the highest degree, Sept in the money calls gained about 2 bucks.
Whoooooo Hooooooooo

Especially the JPMII , $45 calls , I was all set to just let them expire .
@47.05 the percentage gain is hansom, hansom indeed !

Closed @ 47.05
the next trades were after hours, think SEC will investigate that ?? LOL
16:02 $ 44.96 200
16:02 $ 44.96 100
16:01 $ 45.80 100
16:01 $ 45.61 500

talkin to meself again, it seems
GLTYA

http://biz.yahoo.com/bw/080925/20080925006255.html?.v=1

JPM is positioning itself for the recovery, may just emerge as a super powerhouse in the future. So far it sounds like JPM is getting a bargain.

It will be interesting to see if the market agrees tomorrow.

Jamie Dimon is looking like a genius imo... Gonna have to buy some of this one when this financial craziness subsides!

The seizure by the government means shareholders' equity in WaMu was wiped out. The deal leaves private equity investors including the firm TPG Capital, which gave WaMu a cash infusion totaling $7 billion this spring, on the sidelines empty handed.

JPMorgan Chase said it was not acquiring any senior unsecured debt, subordinated debt, and preferred stock of WaMu's banks, or any assets or liabilities of the holding company, Washington Mutual Inc. JPMorgan also said it will not take on the lawsuits facing the holding company.

JPMorgan Chase said the acquisition will give it 5,400 branches in 23 states, and that it plans to close less than 10 percent of the two companies' branches.

The WaMu acquisition would add 50 cents per share to JPMorgan's earnings in 2009, the bank said, adding that it expects to have pretax merger costs of approximately $1.5 billion while achieving pretax savings of approximately $1.5 billion by 2010.

Need to get some JPM and BAC for the long haul

Nice idea. Check out the stability factor. Pull up the 4 year chart of all the majors and there's JPM (Oldtimer), followed closely behind (and learning), is BAC, they are among the stable ones, and the market is presently seeking stability. Banks are supposed to be stable, conservative, and prosperous. If the system survives, they will thrive.

Also, way I figger, they paid 1/4 Mil per bank location ( a bargain in itself) , and the rest of it was free........If you gotta put your money somewhere.............
I suspect deposits will rise in the institutions deemed most powerful to survive this crisis.
And who cares if JPM has nothing to back up their leverage as long as they have the strength to continue the mirage longer than the others. And if all this smoke and mirrors out there, protecting the fiat currency ,comes tumbling down, money won't be worth anything anyway, so no need to fret. You wouldn't have lost a thing.

talkin ta meself again, nevermind....................

Funny thing is I called my friend at WM Friday and asked him if he still had a job as he works in the mortgage department. To my surprise he was very happy and said that nothing changed and it was business as usual except he works for Chase now... He said that Chase needed to expand to the west coast and that this was the perfect opportunity for that. However he did add that there would be overlaps on the east coast where Chase already has alot of branches and some jobs would probably be lost there... Not what I expected at all from the phone call... So from what I can tell Chase seized upon a great opportunity here.... Expanded to the west coast in two days time at a bargain rate. Posted this in the WM thread but looks like it belongs here also. I agree JPM is setting themselves up for the future not sure about short term but long term looks good