Thanks to all of the amazing DD and learning about the fraudulent activities by the major US banks, I decided to pull all of my money out of my JPM/Chase checking and savings accounts and open new accounts at a local credit union.

When I called to close my accounts over the phone, I expected the customer service rep to try to persuade me to stay. It was the complete opposite.

She asked why I wanted to close my accounts. I tried to think of a quick answer and not spout 30 minutes of DD over the phone she probably had no idea about. She then asked if I had a poor experience at a branch. I said that my decision to close my accounts had nothing to do with the branches, but rather the CEO and his unethical answers to the Financial Oversight Committee recently.

She said, “I hear you, and I don’t blame you! But that’s all I can say.”

Shocked, I took this as a green light to expound how Jamie Dimon has no hesitation about taking billions of dollars in overdraft fees from struggling Americans during a pandemic and refused to reimburse the overdraft fees when questioned by Senator Warren.

She responded by saying, “ I couldn’t agree more. I’ll happily close your accounts!”

What I expected to be a long and stressful phone call was anything but that!

To anyone who is considering leaving a big bank, don’t think twice. The hate for their upper management is real!!

this is not financial advice. I have two crayons stuck in each nostril and other orfices as I type this

Edit: This received more visibility and comments than I expected. Thank you for the awards as well. I’m just an ape doing ape things.

Long story short: Grocery store after work, individual comments on my dress shoes (since I just got off of work & they were Johnston Murphy). The conversation lasted forty minutes; in which we discussed a lot of things about society & philosophy. He divulged he worked for JPM, I verified he does (with High Networth cliental and retirees).

We spoke about Voltaire and his view on fiat money (being worthless), and I shared my views of what occurred with FTX & SVB bailout. He divulged internal data showing Americans working two jobs; and that 70% of Americans couldn’t afford a medical emergency of $300 if one happened today.

He went on to say that even Asset Managers & Hedge Fund managers do not know what to do. Because the fact remains that investors lost 26% in 2020. Those with $1M went down to $700K; and these type of investors are aged— AND are just now redeeming their funds back at record rates.

Hedge Fund managers are still taking huge bonuses and the entire finance industry is just waiting for a collapse.

“It’s no wonder that all of these people keep ending up in the news dead. Nobody wants to be here for it.”

4/2/2024 @ Approx 6:30PM CST

A data scientist here. Recently developed a tool that analyzes options flow from the entire day to make short term predictions of 1-5 days. Wanted to share some of the alerts for the next week with you folks. Please let me know if this is something that everyone likes here and if I should continue it.

The tool is still new so please be careful with all the alerts. I would recommend paper trading these for a few days and doing your own DD as well. The overall accuracy is around 60-70% which means it can make mistakes. Happy to talk more about how the tool works.

Bullish means the stock is expected to move up more than 1% from the current close at least 1 day in the next 1-5 days. Bearish means the stock is expected to stay the same or go low in the next few days. The definitions are a bit loose but the stock usually makes a decent amount in reality.

Bullish Alerts

$BABA - Bullish probability of 84.3%. This fell right at the 50 moving average which usually acts as a support for a stock in uptrend ().

$CHWY - Bullish probability of 75.1%. Again, a beautiful setup especially if it falls on the support at $52 and starts to bounce back ()

$MSFT - Bullish probability of 71.0%. As long as this stays above the support of $210, this is a good setup (). Otherwise, it might fall down hard because of the gap.

$TWLO - Bullish probability of 67.2%. This is only a decent setup if it stays above the support of $245. Bad setup otherwise. However, the tool is bullish, so I have got to go with that. ()

Bearish Alerts

$SPCE - Bearish probability of 88%. This was predicted to be bearish about a week ago and it has gone down a lot. Continue downward trend if it can break the support at $17 () ()

$AAL - Bearish probability of 87.5%. I would be careful with this setup since the price is forming a bullish triangle. If it breaks the 13$ level, get out immediately as that is a good resistance level ()

$SRNE - Bearish probability of 86.9%. This is the third alert from the tool and I've failed twice with this alert. So I would encourage you not to follow this. But I trust the tool and I think this is going to get down at some time.

$JPM - Bearish probability of 85.3%. This is a good setup if it touches the resistance and comes back from $99.7 level ()

If you don't like these alerts, please don't be a hater, just ignore them. They are not perfect and I know that.

Happy to chat more about how everything works. Please do let me know if this is something folks here would want on daily basis. Here is a spreadsheet that contains results from the week before last ()

I bought 60 JPM $165 calls expiring 06/17 on 02/24. Then the invasion happened followed by financial sanctions distrupting my position and exit plan. I am down 95%.

Congratulations to my fellow JPMorgan Chase owners on your raise.

Awesome 9.5% increase. Goes from $1.05 per share/per quarter to $1.15 per share/per quarter.

Currently sitting at a forward yield of 2.37%.

JPM is a big position in my portfolio. It’s a buy & hold forever stock. It's the only Bank I own. They are by-far the most dominant bank in the industry with a fortress of a balance sheet.

"The Board of Directors of JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) declared a quarterly dividend of $1.15 per share on the outstanding shares of the common stock of JPMorgan Chase, an increase from the prior quarterly dividend of $1.05 per share. The dividend is payable on April 30, 2024, to stockholders of record at the close of business on April 5, 2024."

Congratulations to my fellow JPMorgan Chase owners on your raise. This is the second raise this year. Wow!

Awesome 8.7% increase. Goes from $1.15 per share/per quarter to $1.25 per share/per quarter.

JPM is a big position in my portfolio. It’s a buy & hold forever stock. It's the only Bank I own. They are by-far the most dominant bank in the industry with a fortress of a balance sheet.

Additionally, "The large-cap bank has authorized a new common share repurchase program of $30 billion, effective July 1, 2024."

Large and consistent dividend increases as well as share buyback programs makes this an amazing holding for many of us.

.

Q1 EPS of 78cents vs consensus estimate of $1.84 driven by $6.8bn addition to loan loss reserves (total credit costs of $8.3bn for the quarter).

Sheds some light on the calculus behind them tightening credit standards on mortgage borrowers.

And yet, shares trading up 3% premarket on the news as IMF announces the covid recession will be the worst since the Great Depression.

This is getting ridiculous.

CNBC article:

Edit: Nice!