Monday, January 11, 2010

What's the word today stock?

The word for the next couple weeks is (no not plastics)...Financials. The next couple weeks will have some very interesting earnings reports from some major players and regionals. The sector has had a pretty good run since XLF touched support at the 14 handle and looks to increase volatility. The reporting season begins with JPM on Friday and by next Friday we will see the numbers from the likes of C,BAC,GS,MS,WFC,FITB,USB,STT,NTRS, RJF, USB, and others. Some are heading into resistence and some are poised to run. Given the size of the bonuses, the "word" is going to be good. Although there are many, I'm gonna give a shot at FITB-looks ready to run..breaking resistence through the low 11 handle...comming off a multi-month base, doing some expanded hiring, asset mgnt biz at their backs....I see 14. Looking for quick jump to 12....I did a 1/3 bet at 11.19 today near close with "red-zone alert" at 10.90...That's 30 cents down for about 3 bucks up...love it ... 10 to 1...print it!