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Strategies & Market Trends : Canadian Options
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To: thebeach who wrote (457)5/22/1997 10:10:00 PM
From: Jan Johnstone   of 1599
 
On what Fundamental, or Technical, basis do you think bank stocks are going to break out. Or is this gut feeling ??

Earnings could surprise on the upsided(I'm thinking they won't), since estimates have already been raised after all the previous excellent quarters. In case you're not aware, banks are interest rate sensitive. As Thiessen stated clearly last week, we may have seen the bottom for rates.

There may be a short burst, if earnings are good. But in the months ahead, bank stocks are heading down. I'll likely buy long term PUTS once releases are out, on Bank of Montreal. Hopefully, they'll work out.

Jan
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