Banking Sector Update

Two weeks ago I had stated that a correction in the banking sector was likely as evidenced by the bearish charts of $BKX (KBW Banking Sector) as well as a few of the heavy weights of the financial sector, BAC, C, and JPM.  At the time, JPM was the only one of the three which had already broken down from it's bearish rising wedge pattern but since then, BAC and C have also clearly followed suit and although they are getting close to my first minor support levels, which may or may not produce a decent bounce, I believe that the [...]

Apr 5, 2013 10:20am|Categories: Equity Market Analysis|Tags: , , , |Comments Off on Banking Sector Update

Banking Sector Correction Likely

I'm considering shorting some of the large bank stocks but I'll just share these charts as "unofficial" trade ideas for now, possibly adding them as soon as I clean up the Active Short Trades category.  I'd like to cull out some of the Active Shorts that may not have triggered a stop yet, many of which are even profitable but just not offering as good a risk/reward profile at this point as I'd like to see.  Therefore, I plan to remove some of those trades soon to make room for some new short ideas that offer a better R/R profile at [...]

Mar 21, 2013 2:26pm|Categories: Equity Market Analysis|Tags: , , , |Comments Off on Banking Sector Correction Likely