JPM closed yesterdays gap, not bad at all.
BAC on the other hand, no dice.
Analyst from Canaccord Genuity calling for 1575 S&P by the end of the year.
He says everything is going to work out just fine, we should be expecting a 20% from here.
Lets break this down:
a) He really believes this
b) His boss told him to say this so they can try rally the market and sell their long positions
Found this Pic Of General Oldfart ..
As usual breaking the No fraternization rules...
Ya, I thought so last week ..... but the shares are seriously locked up. Only way it's gonna fall is by some natural profit taking, which I thought would've already happened by now. Did they cure cancer or something? People are clinging to their shares like a life preserver.
I think it depends on trading style, time frame, and experience. For myself it is easier to do 1 trade at a time, because this is not my job and i dont have the time. i hold other securities simultaneously though.
I think we'll see a nice rally into the close. Close near or above 132.20 ..and head for 133 tomorrow.
But I just bought SPY calls so I have a biased opinion