I may have missed posts about this, but does anyone know why this stock price seems to be so volatile?
Or why it is dropping today?
Usually when interest rates are lower banks/financials have a tougher time. I watch the TLT for direction of rates.
If the TLT (etf for 20 year + bonds) is up that means interest rates are lower. Absent news, this is the likely cause of weakness in the SBNY.
Rob
Thanks MONYMAN.
I see that WFC and BOFI are up today, so I’m still not understanding why SBNY is down. I’m also not finding any news.
I know that Saul likes this stock, based upon his postings on it. It does seem to me to be generally be more volatile than other bank stocks. I don’t know why.
az,
I have the same concern as I only have a speculative bullish options position (so I worry more about timing).
The only thing it could be is the sting of the taxi medallion loan set aside?? That and the interest rate wavering today shows that has some effect.
See what Saul wrote herehttp://discussion.fool.com/my-portfolio-at-the-end-of-july-32339379.asp….
Makes sense.
Joe
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