Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,335
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Post by Dave on Apr 19, 2023 1:32:06 GMT -8
This Wednesday morning we have a red pre-market at -0.64% at the moment. Is it correction time?
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Post by CdnPhoto on Apr 19, 2023 4:45:55 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,335
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Post by Dave on Apr 19, 2023 4:56:22 GMT -8
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,438
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Post by chinacat on Apr 19, 2023 8:07:35 GMT -8
Listen my children, and you shall hear Of the midnight ride of Paul Revere.
Happy Patriots Day, everyone!
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Post by Lstream on Apr 19, 2023 9:24:43 GMT -8
And you can be sure that most of those losing traders believe in Technical Analysis, and use it to make decisions. Not a surprising outcome, given that.
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Post by duckpins on Apr 19, 2023 9:59:48 GMT -8
"This Wednesday morning we have a red pre-market at -0.64% at the moment. Is it correction time?"
" you can be sure that most of those losing traders believe in Technical Analysis, and use it to make decisions. Not a surprising outcome, given that."
Forewarned. Apple has taken out its last higher high and now on to 169 (8-26-22) then 175 (8/17/22) and a new high eventually if all goes well.
2 kinds of day traders the quick and the broke.
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Post by duckpins on Apr 19, 2023 10:10:10 GMT -8
Regional banks are up today after Apple GS scare off yesterday. Western Alliance is up 20+ %, don't know anything about them. But the regionals all sunk because of the mass shorting. Now bouncing or maybe normalizing. DPST is the way to bet on this move higher of the group. I know it's risky. No guts...
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Post by duckpins on Apr 19, 2023 10:22:20 GMT -8
Found this:
Some good news for Western Alliance Bancorp: Not only is its stock surging Wednesday, its bonds are too, suggesting the Phoenix-based bank's future cost of funding won't be nearly as expensive as it looked like it would be a few weeks ago.
Announcing its first-quarter earnings after the market closed on Tuesday, Western Alliance said deposits rose $2 billion (https://www.wsj.com/livecoverage/stock-market-news-today-04-18-2023/card/western-alliance-stock-surges-after-deposit-update-eHgFxfgVOEKNFvoEXE6D) in the first half of April following outflows in March.
The bank's 3% senior subordinated notes due in 2031 recently traded Wednesday at 79 cents on the dollar to yield 11.075%, or 7.09 percentage points above U.S. Treasurys, according to MarketAxess.
I remember when bond prices were listed in the paper like stock prices. Now it is really hard to find bond prices. Trading them is where real money is made. I had some convertibles in TSLA and sold them for a modest gain, could have made a fortune if I kept them.
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mark
fire starter
Posts: 1,631
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Post by mark on Apr 19, 2023 18:04:55 GMT -8
Found this: Some good news for Western Alliance Bancorp: Not only is its stock surging Wednesday, its bonds are too, suggesting the Phoenix-based bank's future cost of funding won't be nearly as expensive as it looked like it would be a few weeks ago. Announcing its first-quarter earnings after the market closed on Tuesday, Western Alliance said deposits rose $2 billion (https://www.wsj.com/livecoverage/stock-market-news-today-04-18-2023/card/western-alliance-stock-surges-after-deposit-update-eHgFxfgVOEKNFvoEXE6D) in the first half of April following outflows in March. The bank's 3% senior subordinated notes due in 2031 recently traded Wednesday at 79 cents on the dollar to yield 11.075%, or 7.09 percentage points above U.S. Treasuries, according to MarketAxess. I don't understand this part. If par is 100, and its coupon is 3%, then it pays $3 a year for every $100 face value. If that $100 is now trading at $79 ("79 cents on the dollar"), then that $3 current yield on $79 is 3.8%. Where did the 11.075% come from? This is a note that is fixed at 3% until June 15, 2026 and then becomes floating, but even if you use the would be current floating rate (4.8% + 2.25%), I can't see where 11.075% came from (I know it came from a WSJ blurb, but they don't explain it either). Any ideas? Here's a link to the prospectus addendum for this one - www.sec.gov/Archives/edgar/data/1212545/000119312521181711/d194124dfwp.htm
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