Considering shares of JPMorgan are down about 12% over the past three months, how should game the stock ahead of earnings Thursday?
Seems like a good time for Fast Money 360.
Find out what fundamentals, technicals and insights from the options world all suggest lie ahead for this stock!
FUNDAMENTALS
FBR analyst Paul Miller has mixed feelings about JPMorgan . He tells Fast Money his estimates are “a little below the Street due to weakness from fixed income and lower mortgage production.”
But he says profits won’t move the stock; instead he believes the big catalyst will stem from what the company has to say about finreg. And Miller expects CEO Jamie Dimon will makes comments that are “better than people expect.” As a result he thinks the stock is a ‘Buy’ up to $45.
Fast Money traders Jon Najarian and Karen Finerman see the commentary a tad differently. They both think comments about reserves for loans that are not performing -- as well as credit issues -- are the market moving metrics to watch out of JP Morgan.
However, both agree with Miller that the Street should like what it hears and are bullish on the stock.
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CHARTS
Technical analysis from Oppenheimer’s Carter Worth is completely bearish.
Because of patterns in the chart, "I'm a seller of JPMorgan going into earnings,” he tells the desk.
”The stock has acted poorly for many, many months,” he explains. “I expect to see a big rollover.”
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OPTIONS
Jon Najarian of Optionmonster.com thinks shares are going higher.
He cites the fact that volatility expanded in the options dramatically but that volatility’s been coming out.
”That tells me the stock’s going up,” Najarian concludes.
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Trader disclosure: On July 13, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Seymour Owns (AAPL), (BAC), (INTC), (MSFT); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (BP) Calls; Finerman Owns (GOOG); Finerman's Firm Owns (JPM), (JPM) Leaps; Finerman Owns (JPM); Fimerna's Firm Owns (MCD); Finerman's Firm Owns (RIG) Calls; Finerman's Firm Owns (YUM); Terranova Owns (ADI), (GOOG), (APC), (GMCR), (MYL), (BAC), (ABT), (AXP), (HES), (AMZN), (SUN), (SMH), (MYL), (MRVL), (ADI), (EMC), (CVS), (AKAM), (ADBE), (MON), (KCE), (FCX) ; Terranova Owns (FCX) July Calls; Kelly Owns (BP) Puts; Kelly Is Short (GS); Jon Najarian Owns (SCHN), Is Short (SCHN) Calls; Jon Najarian Owns (STLD), Is Short (STLD) Calls; Jon Najarian Owns (BP), Is Short (BP) Calls
For Joe Terranova
Terranova works for (VRTS)
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners owns more than 1% of (CASS)
Virtus Investment Partners owns more than 1% of (LDR)
Virtus Investment Partners owns more than 1% of (LPHI)
Virtus Investment Partners owns more than 1% of (MGRC)
Virtus Investment Partners owns more than 1% of (XLB)
Virtus Investment Partners owns more than 1% of (XLP)
Virtus Investment Partners owns more than 1% of (XLY)
Virtus Investment Partners owns more than 1% of (XLI)
Virtus Investment Partners owns more than 1% of (XLK)
Virtus Investment Partners owns more than 1% of (XLU)
Virtus Investment Partners owns more than 1% of (SUBK)
Virtus Investment Partners owns more than 1% of (WDFC)
Virtus Investment Partners owns more than 1% of (YDNT)
Virtus Investment Partners owns more than 1% of (DRYS)
For Brian Kelly
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (NWL)
Accounts Managed By Kanundrum Capital Own (BIG)
Accounts Managed By Kanundrum Capital Own (GME)
Accounts Managed By Kanundrum Capital Are Long U.S. Dollar
Accounts Managed By Kanundrum Capital Are Short (FXI)
Accounts Managed By Kanundrum Capital Are Short (EWA)
Accounts Managed By Kanundrum Capital Are Short (EWI)
Accounts Managed By Kanundrum Capital Are Short (NATI)
Accounts Managed By Kanundrum Capital Are Short (KMX)
Accounts Managed By Kanundrum Capital Are Short (RSX)
Accounts Managed By Kanundrum Capital Are Short (AMZN)
Accounts Managed By Kanundrum Capital Are Short (FCX)
Accounts Managed By Kanundrum Capital Are Short (HIG)
Accounts Managed By Kanundrum Capital Are Short (MET)
Accounts Managed By Kanundrum Capital Are Short (CLF)
For Robert Mackenzie
FBR Capital Markets Is A Market Maker Or Liquidity Provider For (BRNC), (RIG), (SLB), (KEG), (HERO), (ESEA), (TESO), (SBLK), (VTG)
Mackenzie And/Or A Member Of His Household Owns (RIG),
(KEG) Is A Client Of FBR Capital Markets (Non-Investment Banking, Securities
Related Services)
FBR Capital Markets Has Mangaed Or Co-Managed A Public Offering Of (HERO), (VTG), Has Received Investment Banking Compensation In Past 12 Months
For Christopher Whalen
***No Disclosures
For Joe Lavorgna
***No Disclosures
For Carter Worth
The Oppenheimer & Co. Analyst Who Covers (JPM) Owns (JPM)
For Paul Miller
***No Disclosures
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