Thursday, April 15, 2010

Bank Index Objective Reached



As you know I've been very bullish on the banking stocks based on the breakout of a low volatility pattern on the weekly charts. The reason for this post is because my first upside objective has been reached this morning. If you take the range of swing "A" to "B" and double it, you will arrive at level C which was reached on the open. I think this would be a good place to exit at least half of any long positions you may have in the banking stocks. I would also use a trailing stop for the balance of your position in case this market continues to move higher. If you would like to see my original post regarding the banking stocks, you can do so by clicking here.

1 comment:

Anonymous said...

Another excellent call. Got the email this morning and by the afternoon it was over!! Thanks Kevin.learning every day!!PL

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