Banks are weak, but Contrarian to all technical sentiment,
I scaled into a few banks based on their being at the
bottom of their uptrending channels that started in March and more
recently from Nov 3. I plan on adding more at the uptrend
support and will exit on a break of either side of the long term
channel.
Interested in the major widely traded banks C BAC GS, looking at
adding WFC MS JPM
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Financials
Posted by thebeav on 13th of Nov 2009 at 04:03 pm
Everything might be up today but financials look weak. Very strange market right now.
Financials...
Posted by cal1 on 13th of Nov 2009 at 09:46 pm
It is possible that financials are continuing to lead.
? Financials are lagging, not
Posted by matt on 14th of Nov 2009 at 01:46 am
? Financials are lagging, not leading
my point
Posted by cal1 on 16th of Nov 2009 at 11:35 am
my point
NO....Meredith Whitney's Opinion
Posted by bboylan on 13th of Nov 2009 at 10:06 pm
I think not at this time. I am going to stay with Meredith Whitney's opinion
on the financials at this time.....sell them. As I looked over the charts of C, GS,
BAC, WFC, MS and JPM....the only one that looked maybe ok ...was MS.
BB
C GS BAC scale-in, looking at WFC MS JPM
Posted by straws on 13th of Nov 2009 at 05:50 pm
Banks are weak, but Contrarian to all technical sentiment, I scaled into a few banks based on their being at the bottom of their uptrending channels that started in March and more recently from Nov 3. I plan on adding more at the uptrend support and will exit on a break of either side of the long term channel.
Interested in the major widely traded banks C BAC GS, looking at adding WFC MS JPM