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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 665.67-0.9%Nov 17 4:00 PM EST
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To: Keith Feral who wrote (40686)11/21/2012 11:33:24 AM
From: Fintas  Read Replies (1) of 218916
 
Since I own both JPM and BAC in core I must agree.

BOTH are great call plays IF one has the profile and understands the risk vs reward.

I have NONE in JPM but I lurk day in and out waiting for JPM leaps to come to papa. I've seen JPM do 9-12 times several times in the past 4 years. It comes off extreme sell offs. So please take JPM to 33.85

And the Bac 2014 7's at 1.91 ish are just doing their thing.

BUT. I do see BAC wanting to fill that gap in the 8's. IT may not do so but I have learned those large caps that can be pushed around tend to magically fill those gaps. Look what they did to Be back in 2011 on that pullback to fill a gap at 14 from 21. YUP Magic.

On the upside the core of BAC IMHO offers greater % up for reasons you note and some you do not. Forced buyins are coming at some point.

As for C. Why mess with it when one has the choice of THE 3. WFC, JPM, BAC

OH and on the sector side banks, savings, financials are a bit heavy to the right and that means a some selling is to be expected in the sectors.. So it says to me it might be a good time to do some covered calls on the rally, or a put if that is one's thing.

Bottom line I own both JPM and BAC LONG and I'm very comfortable with both.
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