Latest FAS Components

Lastest FAS Components – Here you go (as of June 7, 2009)

Tags: FAS

Bankin On It.. Or Not.

As I prepare for tomorrow’s opening bell, I can’t help but notice that a lot of bank stocks are setup for a technical breakout.  I haven’t been watching the news, so I’m not sure what’s going on in the financials, but I live by the charts – and those charts tell me to get ready for moves this week.  Of course, anything can happen – the breakout could be down or up.  The only thing I can do is be prepared just in case the bull breakout does happen (I will likely not play a breakdown).  NOTE: Right now the financials are falling asleep with losing interest from traders on decreasing volatility (the trades have been in biotech lately).  I’m preparing fro the traders to come back to the banks – they will soon – I’m banking on it, or not.

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Tags: BAC, BBT, C, FITB, HBAN, RF, WFC

FAS Components

Ever wondered what makes up FAS… well, here you go (as of 3/2/2009)

Largest bank ownership (ones that move FAS the most):

JPM
WFC
GS
BK
V
BAC
USB
MS

VIEW FULL LIST

Tags: FAS

Time to Make a Deposit

I’m betting that tomorrow will be a good day to put money into financial stocks for a quick scalp on an afternoon bull move. Yup, I said bull move tomorrow. Don’t get me wrong, I think we’re deeply entrenched in a bear market, so any move to the upside is not likely to last very long. Last Monday, I correctly called the bottom in financials for the week and looked for 4 up days.  We got it and have since retracted back down below last Monday’s levels. Time to move up again?

The way I’m playing Tuesday financials:

• First, and foremost, limit the focus to those with the largest downturns over the last few days. So, I’m only looking at FAS, C, WFC, and BAC. Keepin it simple.
• Next move is to watch the futures. As I type, the DOW, NASDAQ and S&P 500 are all up slightly. A quick glance at China shows a mid day recovery off the open gap-down.
• Third is to look at the chart and possible entry point.  For me, I like to look at the 5 minute chart and wait for EMA4 to cross up through EMA13.  This gives me a buy signal (supporting narrow and opening bollinger bands help)… not to mention, volume, volume, volume.

Check out the BAC chart for more on why I like financials up tomorrow: (click to enlarge).  I could also be completely wrong

BAC Daily

Tags: BAC, C, FAS, WFC

Cool Video on Credit Crisis

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.