Goldman's profits doubled. JPMorgan (JPM) and Citigroup (C) topped expectations. Next up, Bank of America.
The big banks have reported strong earnings this week, and traders on StockTwits are betting the trend will continue with Bank of America (BAC), which releases second-quarter results Wednesday.
$GS great numbers from banks. Now all eyes will turn to $BAC
Following a blockbuster report from Goldman Sachs (GS), shares Bank of America briefly rose above $14 in early trading Tuesday, topping a level not seen since 2011.
$GS looking real good for Financials today.. This will have a great effect for $BAC!
But the enthusiasm for Bank of America quickly fizzled out as the broader market turned negative.
$BAC What happened to 14? I checked earlier and was happy. Now I see this BS
What gives? Well, everyone knows, you always sell Bank of America before earnings. Or you always buy it before earnings. Sorry, you hold it into earnings. You sell it after. Wait, what?
$BAC easiest trade on WS the past year or so. Buy after earnings, sell before ER. only pigs and blind cheerleaders hold thru ER 4 upside.
Got it, sell now, buy tomorrow. No pigs or cheerleaders here.
$BAC Hold into earnings, sell on the beat momentum in the am
Ok, hold now, sell tomorrow. Thanks for clearing that up. What if this time it's different?
@mgreenlocke $BAC if anything it wont sell off as other times. im holding my calls trough earnings.
Anyone else want to take a stab?
$BAC I cant help it, I just keep buying
One thing is for sure, Bank of America is not going to fall below $14 a share, until it did.
$BAC Only up from here.. anit no way it'll go back below $14... before or after earnings. Just buy now as you wish!
Later that morning...
@max2207 Damn... thats nice. I'm losing like $300 bucks on $BAC. What do you think... about holding past earnings.
Of course, it's still relatively early.
$BAC All the banks turning around. Maybe it was just a morning breather and the afternoon will be different.
Breathing is important, maybe just let them breathe all day?
$BAC $GS. Financial will move higher tomorrow. Taking little breath today
So what is all the fuss about anyway?
Bank of America is expected to report earnings of 25 cents per share for the second quarter, up from 19 cents in the same period a year ago, according to a consensus of Wall Street analysts.
$SPY ok so tomorrow $BAC may beat 25 cents in earnings. is that really something to get ultra-pumped about ? 25 cents ?