AIG (AIG) will hold back $21 million from employee bonuses (CNBC)

Google (GOOG) will shut its Google.cn site in China (various)

Arrow Energy will reject a $3 billion takeover bid from Royal Dutch Shell and PetroChina (PTR). (Australian Financial Review)

T Rowe Price (TROW) is in talks to buy a stake in Chinese financial firm Citic. (Reuters)

Barclays Capital is considering the partnership model used by Goldman Sachs and Merrill Lynch years ago (FT)

Neuberger Berman will list a distressed debt fund on the London exchange. (FT)

Bank of America (BAC) will seek government approval to expand its operations in China (WSJ)

Blockbuster (BBI) is trying to find buyers for its stores in Europe (The Times)

Douglas A. McIntyre

The Corporate Power Rankings are released at midnight on each Sunday based on performance during the previous week.

McDonald’s (MCD) sharp improvement in same-store sales moved it to the top of the list. Google (GOOG) was beaten down by its probably decision to exit China.  Ford, which has been near the top of the list, what hurt by news that Toyota (TM) has posted strong sales in the early days of March

	Company	Rank (last week)	Symbol	Comment
	McDonald’s	1 (9)	MCD	McDonald’s posted obscenely good February same-store sales up 4.8% from last year. People will eat fattening food even in a snow storm. Rival Burger Kings claims lousy results.
	Disney	2 (3)	DIS	Disney’s crazy “Alice In Wonderland” films holds first place for another weekend. Mouse Company wised up and shutters underperforming Robert Zemeckis’ ImageMovers Digital. Sacks 450 people and wins Employee Morale Day award.
	Berkshire Hathaway	3 (5)	BRK	Berkshire Hathaway boasts CEO Buffet as Forbes 3rd richest man in the known universe. But, best news is that Berkshire had no involvement with Lehman implosion.
	Coca-Cola	4 (4)	KO	Coca-Cola bottling affiliate posts huge profit increase. More good press mention about soda company dividend increase.
	Apple	5 (1)	APPL	Apple shares expected to rise from $226, near a 52-week high, to as much as $280 according to a new TheStreet.com poll. COO Tim Cook gets $22 million bonus, so things must be going pretty well.
	IBM	6 (7)	IBM	IBM thrashed Hewlett-Packard (HPQ) and EDS in fourth quarter digital storage market share race. Company announces it plans to make money on cell phone tech for old people and students. Shows the firm’s ability to make money no matter what.
	Ford	7 (2)	F	Ford sales may not do as well near-term as expected as aggressive incentives bring customers back to Toyota. But, No.2 US car company (No.1 some months) forecasts profit in small cars.
	Abbott Labs	8 (14)	ABT	Abbott heart device operation gets big lift from new heart value replacement. Market laughs off Citigroup downgrade.
	Wal-Mart	9 (8)	WMT	Walmart comes up with bright decision to put back on its shelves items that customers miss. Maybe it should not have removed them. But, news of hot China economy is good for big box boy.
	Philip Morris	10 (10)	PM	Philip Morris declares $.58 dividend which now drives yield of 4.7%. Refinancing of debt pushes expensive obligations into the future.
	Cisco	11 (6)	CSCO	Al Gore invented the internet. Router company makes big deal about making worldwide web as much as 12 times faster. Announcement falls flat.
	Johnson & Johnson	12 (12)	JNJ	Johnson & Johnson is one of the drug companies that Barron’s say will lose $100 billion in sales to over the next five years. But, with medical device and consumer lines, JNJ is safest haven.
	Oracle	13 (11)	ORCL	Oracle stock runs up sharply for the week, perhaps because Forbes named Larry Ellison one of the world’s richest men. Probably not, actually. Rebound in tech spending is best guess on Wall St.
	Verizon	14 (16)	VZ	Verizon makes bizarre decision to list on NYSE and NASDAQ. On a better note, company will put NFL on wireless phones which should help sell handsets and wireless subs.
	Proctor & Gamble	15 (20)	PG	P&G recalls Pringles. The good news is no one eats them anymore. On the other hand firm gets good PR for its “green cleaning” products.
	GE	16 (13)	GE	GE faces uphill battle with regulators on NBCU deal with Comcast. Conglomerate tries to make big deal out of financing deal with Navistar. Wall St. won’t buy it.
	Intel	17 (19)	INTC	Intel may benefit from PC companies push to get tablet PC to market ahead of Apple iPad. Gartner research operation says global chip gear spending to soar.
	FedEx	18 (15)	FDX	FedEx warns of slow economic growth hinting results will be poor. Competitor Deutsche Post misses outlook which means FedEx could be taking market share. Or, whole industry may be weak.
	Microsoft	19 (24)	MSFT	Microsoft wins big if Google leaves China and leaves Bing to graze. Mr. Softy also posts good numbers for Xbox 360 sales in February. Wack-a-moles Wii.
	Dow Chemical	20 (17)	DOW	Dow Chemical gets hit by earnings estimate downgrade by Morgan Stanley. If Lyondell restructuring works, Dow has a new competitor.
	Pfizer	21 (18)	PFE	Pfizer faces failure of early stage experiments on breast and lung cancer drugs. But, research shows doctors should prescribe more cholesterol lowering drugs like PFE Lipitor.
	Exxon-Mobil	22 (27)	XOM	Exxon Mobil gets natural gas deal cleared in New Guinea. Makes gutsy call by increasing capital spending to $28 billion for this year. Leaves competition in the dust.
	Hewlett-Packard	23 (29)	HPQ	Hewlett-Packard is best positioned to launch PC to flank iPad. Forecasts of substantial PC sales worldwide this year should help HP which holds No.1 market share position.
	JP Morgan	24 (30)	JPM	JPMorgan settles pay-out for WaMu leaving major legal headache behind. Examination of Lehman collapse may mean some liability for JPM, but it gets Brownie points for saving Bear Sterns.
	Goldman Sachs	25 (32)	GS	Goldman Sachs gets “buy” rating from Societe Generale. GS does not seem to have much exposure to Lehman fallout, yet. China chairman leaves firm, but no one liked him anyway
	Caterpillar	26 (21)	CAT	Caterpillar should benefit from overheating Chinese economy and building spree. But, company economist only forecast 3.4% US GDP growth the year, a signal of bad earnings.
	Google	27 (22)	GOOG	Google hints it is highly likely to close China search site which could cost it hundreds of millions of dollars over time. Company faces fed scrutiny over AdMob buy. But, all’s well as research shows Google maintaining huge market share lead in US.
	American Express	28 (23)	AXP	American Express tells some customers that records were stolen by one of its employees. Signs consumer spending is still weak do not favor credit card firms.
	Boeing	29 (25)	BA	Boeing told that FAA will inspect some 737s and Air Force grounds 104 FA-18. BA does pass important trial with 747-8 and looks a lock to get Air Force tanker deal, if the plane in not grounded.
	AT&T	30 (26)	T	AT&T could face heavy costs if FCC gets it way on broadband expansion. CEO gets extraordinary pay package for weak results. Ma Bell one of the DJIA components that sharply underperforms index since historic March 2009 lows.
	Bank of America	31 (28)	BAC	Bank of America loses tens of millions of dollars as it cuts debit card overdraft fees. Gets credit for accelerating home loan modification program. But, new data shows foreclosures still rising.
	Home Depot	32 (31)	HD	Home Depot still on its back because of home building and home sales troubles. Analysts seem to like competitor Lowe’s better. It shows LOW stock outperforms HD recently.

-Douglas A. McIntyre   douglasamcintyre@247wallst.com

Reuters:   Google (GOOG) says it is still talking to China, but signs point to pull-out.

Reuters:   Arrow will reject a bid from Shell (RDS) and PetroChina (PTR)

Reuters:   A new JPMorgan (JPM) fund will invest in China and India.

Reuters:   T Rowe Price is in talks to buy a part of a major Chinese fund.

Reuters:   A distress debt fund will list on a Chinese exchange.

Reuters:   House Democrats are still short of votes for healthcare.

Reuters:   The US will introduce a major broadband policy.

Reuters:   Bank of America (BAC) is working on expanding it China business.

Reuters:   The head of Germany said there is no immediate need for a decision on a Greek bailout.

WSJ:   The fight over US sugar quotas is growing as the price in America is different from the rest of the world.

WSJ:   The head of China claimed that the US is trying to help its exports by weakening the dollar.

WSJ:   Wachovia, a part of Wells Fargo (WFC), is in talks to settle money laundering charges with the Justice Dept.

WSJ:   Dodd’s new financial legislation is tougher on banks than expected.

WSJ:   Google (GOOG) is likely to close its China search engine.

WSJ:   Cnooc acquired oil assets in Argentina.

WSJ:   OPEC will have a hard time creating post-recession production targets.

WSJ:   The driver’s description of a Prius incident in California may be wrong.

WSJ:   Lenovo is looking for M&A deals.

WSJ:   Microsoft (MSFT) employees hide their iPhones

WSJ:   China is investigating Hewlett-Packard (HPQ) over consumer complaints of some flaws in PCs.

WSJ:   Airlines are fighting the cost of safety measures.

WSJ:   Some economists believe that Fed will indicate it will raise rates late in the year.

WSJ:   The Abu Dhabi Investment Authority claims its returns over the last 20 years are better than 6%.

WSJ:   AIG (AIG) kept $21 million in employee bonuses.

WSJ:   The US, UK, France, and Germany face a balancing act on debt to keep their Aaa ratings according to Moody’s.

WSJ:   Phillips-Van Heusen is close to a deal to buy Tommy Hilfiger

WSJ:   Lawyers are fighting over lead roles in Toyota suits.

WSJ:   An Abbott (ABT) heart device did well in tests.

WSJ:   Online marketers are working on ways to get better pictures of consumers.

WSJ:   David Perpich, a member of the Sulzberger family which owns the New York Times (NYT), was hired to help run the flagship paper’s online edition.

NYT:   China uses inconsistencies in international trade rules to help its exports.

NYT:   Asian stocks dropped on concerns about the US economy.

NYT:   Publishers in Germany worry that restrictions on sexual material are a form of censorship.

NYT:   The UK is increasing its online anti-piracy rules.

NYT:   Sixteen euro zone nations are expected to make progress on aid to Greece.

NYT:   Ernst & Young may face charges over the failure of Lehman.

NYT:   A new PBS program will be shown on Facebook before TV.

NYT:   China warned Google’s local partners including Sina (SINA) about using the US search company’s tech.

NYT:   Most online news consumers use five sites of less.

FT:   Moody’s warned that its  rating of US debt could come under pressure.

Douglas A. McIntyre

Citigroup (C) may earn $20 billion in 2012 (FT)

Macquarie Group, Australia’s largest investment bank, is on the hunt for more U.S. assets. (Bloomberg)

Regulators have told Bank of America (BAC) management that the financial firm must become “much smaller” (Fox Business).

Apple (AAPL) is still making changes to the iPad ahead of its April 3 launch.  (Forbes)

Biotechs Dendreon (DNDN), Allos Therapeutics (ALTH), Alexion Pharmaceuticals (ALXN) and Auxilium Pharmaceuticals (AUXL) are probable takeover targets (Barron’s)

Douglas A. McIntyre

Reuters:  Toyota (TM) give a Senate panel a memo from a union seeking better quality control.

Reuters:   S&P said the US debt threatened the dollar’s place in the world.

Reuters:   The US bailout overseer criticized the Treasury’s handling of GMAC.

Reuters:   The Volcker rule picked up more support in the Senate.

Reuters:   China’s inflation rose sharply.

Reuters:   The Senate passed a $149 billion jobs bill.

Reuters:   Boeing (BA) says its Air Force tanker contract will create more US jobs.

Reuters:   Bank of America (BAC) is under regulatory pressure to get smaller.

Reuters:   The HHS  Secretary put more pressure on insurance companies over rates.

WSJ:   Airlines may cancel flights over a rule that give passengers more power.

WSJ:   The government is moving toward more regulation of CDS.

WSJ:   Corporations are aggressively increasing their debt.

WSJ:   Toyota (TM) is getting a high level of complaints after its first recall.

WSJ:   H-P (HPQ) will try to expand its reputation beyond printers.

WSJ:   Gasoline is moving toward $3.

WSJ:   Housing sales in China have slowed.

WSJ:   Google (GOOG) says its talks with China are nearing an end.

WSJ:   Verizon (VZ) will have 4G handsets in 2011.

WSJ:   Small firms are lagging behind large ones as the economy recovers.

WSJ:   US household wealth fell by $14 trillion during the recession but is moving back up.

WSJ:   A Chinese regulation that separates rural from urban citizens is causing trouble in the economy.

NYT:   A futures exchange was  set up to bet money on movie box office results.

NYT:   AMR (AMR), BA, and Iberia are close to a deal to strengthen their alliance.

FT:   Citigroup’s (C) CEO see a revival of the bank’s fortunes.

FT:   Geithner warned over fights among financial regulators.

FT:   A deal between the House and Senate to set a consumer protection agency is near.

Bloomberg:   Greece is preparing for national strikes.

Bloomberg:   HSBC (HBC) says data on 15,000 personal accounts was stolen in Switzerland.

Douglas A. McIntyre

Reuters:   China exports rose 46% in February.

Reuters:   China’s Geely raised money to buy Volvo.

Reuters:   Strong Chinese trade data made the case for a firmer yuan.

Reuters:   AIG (AIG) came up with a new formula for employee bonuses.

Reuters:   A group of economists cut their 2011 growth forecasts for the US.

Reuters:   Bank of America (BAC) ended overdraft fees on debt cards.

Reuters:   A new study indicates that NY State should cut its budget by $20 billion.

Reuters:   Greece says the G20 will review financial speculation.

Reuters:   Some senators see wider applications for the Volcker rule.

WSJ:   The Fed is debating when it should raise signals that it will increase rates.

WSJ:   Cisco (CSCO) promoted its faster router.

WSJ:   Barclays (BCS) is looking for new assets in the US.

WSJ:   Sony (SNE) will aggressively promote 3D TV.

WSJ:   Europe is considering a ban on swaps.

WSJ:   The president demanded more extensive audits of federal agencies to detect healthcare and other fraud.

WSJ:   There was strong demand for International Lease Finance bonds.

WSJ:   Apollo bought Citigroup’s (C) real estate investment business.

WSJ:   A Dubai debt deal will not renew its image with investors.

WSJ:   Ingersoll-Rand said it has prohibited non-U.S. subsidiaries from selling products to customers in Iran.

WSJ:   The cost of Toyota (TM) recalls could cost $5 billion.

WSJ:   Symantec (SYMC) will go after mobile hackers.

NYT:   Merch (MRK) and Sanofi-Avantis will set up a venture that will have a huge part of the sales of vet drugs.

NYT:   Mattel (MAT) will make Barbies to cash-in on the “Mad Men” craze.

NYT:   MGM is considering a prepackaged bankruptcy.

FT:   Regulators told US banks to hold bank on share buybacks and increases in dividends.

FT:   The CFTC called for an end to secrecy over dividend trades.

FT:   HP (HPQ) is being accused of selling faulty notebooks in China.

Douglas A. McIntyre

It is amazing that 10 of the 30 DJIA components have more than doubled. Some have done far better than that.  Bank of America Corporation (NYSE: BAC) rose over 400% from its 52-week low, while American Express Company (NYSE: AXP) has risen more than 300% from its 52-week lows.  Alcoa, Inc. (NYSE: AA), Boeing Co. (NYSE: BA), Caterpillar Inc. (NYSE: CAT), EI DuPont de Nemours & Co. (NYSE: DD), Walt Disney Co. (NYSE: DIS), General Electric Co. (NYSE: GE), and Hewlett-Packard Company (NYSE: HPQ) have all risen more than 100%.  Hell, even JPMorgan Chase & Co. (NYSE: JPM), the greatest bank in America, is still up over 180% from its 52-week low.

What is amazing on top of the 100% and exponential gainers is that this was almost half of the companies in the DJIA if you include those which are up 90% from their 52-week lows.  Cisco Systems, Inc. (NASDAQ: CSCO), 3M Co. (NYSE: MMM), Microsoft Corporation (NASDAQ: MSFT), and United Technologies Corp. (NYSE: UTX) are almost at doubles off their lows and some have been doubles if the date was different per their 52-week highs and lows.

We have outlined each of these in the tables below.  Included are prices as of this morning, as well as the average price target from Thomson Reuters analyst consensus data, and a forward year P/E ratio based upon Thomson Reuters consensus data.  We have also shown the actual 52-week trading ranges of each, the market cap, and the actual percentage gains from the lows.

Then there is the list of “almost made the double” stocks.   As noted, Cisco Systems, Inc. (CSCO), 3M Co. (MMM), Microsoft Corporation (MSFT), and United Technologies Corp. (UTX) are all almost there and some have been doubles if the date was different per their 52-week highs and lows.

As far as how the DJIA itself has done, at 10,570.00 or so, the 52-week low is 6,440.08.  The low close was on March 9, 2009 at 6,547.05.  In short, the DJIA is up a whopping 61.4% in the last year.  We have covered this before in certain sectors, but the 52-week lows and performance metrics are going to start looking far different in just a few weeks.

JON C. OGG

The Corporate Power Rankings are released at midnight on each Sunday based on performance during the previous week.

Apple took the top spot as its market cap moved toward $200 billion and it set April 3 to launch the iPad.  Ford moved into second place as its February sales topped GMs for the first time in 12 years.

Home Depot dropped to 31st as home sales dropped.

	Company	Rank (last week)	Symbol	Comment
	Apple	1 (5)	APPL	Jobs & Co.’s stock hits all-time has as market value reaches $200 billion. Market anticipates new iPad launch on April 3. Planned Microsoft competing PC tablet is a non-issue.
	Ford	2 (6)	F	February sales move up 43% as firm passes GM in monthly market share for the first time in 12 years. Toyota implosion should help the house that Henry built keep momentum.
	Disney	3 (4)	DIS	“Alice in Wonderland” film hits $116 million on first weekend. ABC pulls signal from Cablevision and cable firm’s customers will riot to force CVC to pay ABC the $40 million it wants.
	Coca-Cola	4 (3)	KO	Coca-Cola gets flack for its deal to buy it bottlers. But, Wall St. seems unconcerned. UBS upgraded Coke to a “buy”. Board member Herb Allen shows support by buying $6 million in shares.
	Berkshire Hathaway	5 (1)	BRK	New data claims Buffett’s performance has beat any and all mutual funds over last 45 years. But, shares downgraded by KBW after BRK releases earnings.
	Cisco	6 (8)	CSCO	Should release faster routers next week and widen core revenue stream. Shares hit 52-week high and competitor Ciena stumbles. Did Cisco take its market share?
	IBM	7 (2)	IBM	Claim to make gains in chip speed, but the market does not think that will get business from Intel. Is pushing patent reform in Congress, but there is no guarantee IBM’s plan will prevail.
	Wal-Mart	8 (12)	WMT	Retail sales post largest gain since 2007, according to government stats. To the delight of shareholders, sons of Walton increase dividend 11%.
	McDonald’s	9 (7)	MCD	Rival Wendy’s/Arby’s moves to local pricing and $1 menu. Competition seems more likely to cut costs to get Kroc & Co. market share points.
	Philip Morris	10 (9)	PM	Morgan Stanly applauds cigarette company’s $12 billion share buyback program. Credit Suisse says it favors PM over rival British American Tobacco.
	Oracle	11 (13)	ORCL	Barron’s gives Sun buyout an endorsement as earnings engine hums along. Private equity firm offers big premium to buy rival Novell, a sign ORCL may be underpriced.
	Johnson & Johnson	12 (10)	JNJ	FDA expresses concerns about firm’s insulin pumps. Rival Pfizer offers anti-clotting pill that may take JNJ share.
	GE	13 (11)	GE	ABC job cuts an indication 2010 will be hard for networks and NBC already lost money on Olympics. Chief Immelt takes no bonus, but other top managers become rich with 2090 comp.
	Abbott Labs	14 (15)	ABT	FDA favors transplant drug over new treatment from Bristol-Myers. Head of Abbott Medical Optics takes over powerful position at top of medical device lobby.
	FedEx	15 (17)	FDX	Problems at US Postal Service likely to cause cutback in service sacrificing business to FDX. Morgan Keegan upgrades stock based on anticipation of big earning increase.
	Verizon	16 (16)	VZ	FCC plan to aggressively expand broadband will help providers like VZ. Microsoft to launch new cellular handset with carrier, but no one may buy it.
	Dow Chemical	17 (14)	DOW	Firm will sell ill-fitting division Styron plastics for $1.6 billion. Rival Reliance Industries fails in key strategic bid to buy LyondellBasell and improve hand against DOW.
	Pfizer	18 (20)	PFE	Good showing in trial with new anti-clotting drug. May buy generic firm Ratiopharm which would allow diversification away from patents. Tough hit on Alzheimer’s candidate failure.
	Intel	19 (21)	INTC	iSuppli experts say global chip revenue will rise 21%. UBS says overall industry expansion is faster than expected. It’s good to own 70% of the market.
	Proctor & Gamble	20 (24)	PG	Cramer says he likes company, so how bad could it be? PG finishes 6th in Fortune “Most Admired” ratings, but who cares?
	Caterpillar	21 (18)	CAT	China says GDP will be up at least 8% and infrastructure expansion should be strong. Options trading suggest upward pressure on stock.
	Google	22 (19)	GOOG	Buys DocVerse to broaden competition with MSFT PC software. Finishes 2nd in Fortune “Most Admired” completion, which will not offset antitrust problems in EU and Justice Department concern about settlement with book publishers.
	American Express	23 (22)	AXP	Federal Reserve seeks limits on what credit card company can charge for consumer penalties. Raised rates on some of its cards, tempting Congressional fury.
	Microsoft	24 (27)	MSFT	Forecast of sharp rise in PC sales this year will help Windows 7 sales. Antitrust case against Google could help Mr. Softy in Europe. Plans to launch handset preposterous.
	Boeing	25 (23)	BA	Rival Airbus gets much-needed bailout for A400M model keeping BA competitor alive in military transport business. Boeing will bid on Air Force tanker but may not get the critical win.
	AT&T	26 (29)	T	Dispute between Cablevision and ABC should help T fiber optic business stronger ties with network TV. Apple iPad launch should lift AT&T 3G subscriptions.
	Exxon-Mobil	27 (32)	XOM	Crude at $80 always a plus. Rival BP makes optimistic noises about the industry. Market concern about XOM Baytown refinery turns out to be empty.
	Bank of America	28 (26)	BAC	Volcker rule and new credit card penalty restrictions each undermine BAC prospects. Congress tells rival Citi that days of government support of big banks are over.
	Hewlett-Packard	29 (25)	HPQ	Company has to revise last quarter’s earnings because of bad lawsuit against EDS division. Acute embarrassment worse than impact on EPS.
	JP Morgan	30 (28)	JPM	Pressure from Congress to cut vitally important proprietary trading. Faces limits on credit card charges. Washington dark mood about financial firms shows no sign of improving.
	Home Depot	31 (30)	HD	Relentless bad news on housing with new forecasts that rising defaults could push home prices down this year and in 2011. Investors want big payout of HD cash through dividend. Tough luck.
	Goldman Sachs	32 (31)	GS	Between question about Greek financing transaction and Washington witch hunts about compensation and proprietary trading, GS problems get worse by the day.

Douglas A. McIntyre

Microsoft (MSFT) will launch a phone with Verizon Wireless. (Gizmodo)

Swiss commodity trader Glencore bought back its Prodeco coal operations in Colombia from mining group Xstrata and is looking for partners to provide funds. (Reuters)

Jupiter Asset Management may file an IPO in the UK (FT).

Fannie Mae (FNM) and Freddie Mac (FRE) may ask force banks to buy back some home mortgages. The list of firms impacted would include Citigroup (C), Wells Fargo (WFC), JPMorgan (JPM), and Bank of America (BAC) (Bloomberg)

Douglas A. McIntyre

We have looked at Bank of America Corporation (NYSE: BAC), Citigroup, Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM), and Wells Fargo & Company (NASDAQ: WFC) as the key money center banks.  If you go further down the quality chain, the results are even more skewed.  That is why we included the triple-leverage Direxion Daily Financial Bull 3X Shares (NYSE: FAS).  All figures are below…

Bank of America Corporation (NYSE: BAC) was at $3.74 on March 9, but it closed at $31.13 and $31.16 the two trading days before that.  Literally one week later it closed at $6.17 and two weeks later it closed at $7.78.  A month after the March 9 low is closed at $9.53 before trading up to $11.00 and then back under $9.00 before making its move higher.

Citigroup, Inc. (NYSE: C) is still a very low priced stock but it is always active.  Citi got so bad the week before March 9 that it broke under a buck to $0.97 but never really closed under the $1.00 mark.  On March 9, 2009 it closed at $1.05.  A week later it was at $2.33 and two weeks later it was at $3.13.  On April 9 shares were at $3.04.

JPMorgan Chase & Co. (NYSE: JPM) is the best of the best banks.  On March 9, 2009 its shares hit $15.81 for the close. A week later its shares were at $22.96 and two weeks later shares were at $28.70.  On April9 shares were at $32.62.  There was never a period in any recent years or anywhere close to what we saw in the best capitalized and best run bank.

Wells Fargo & Company (NASDAQ: WFC), Warren Buffett’s favorite bank, closed at $9.89 on March 9, 2009.  A week later it closed at 13.60 and two weeks  later it closed at $17.20.  By April 9 its stock had closed at $19.46.

The biggest changes will come in the Direxion Daily Financial Bull 3X Shares (NYSE: FAS) as the triple leverage ETF.  Things got bad enough that Direxion had to reverse split.  At $76.81 now, its 52-week range is $11.60 to $94.54.  Its March 9, 2009 close was $13.42.  One week later it was at $24.21, and two-weeks later it was at $35.20.  By April 9, 2009 it was back at $43.41.

In another month these stocks are still going to look as though they are much higher than their trailing 52-week lows.  The difference is that these stocks will no longer trade exponentially above their 52-week lows.  This has also started to take a large bite into the 200-day moving averages of many key stocks as their old much lower prices are being replaced by today’s much higher prices.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG