This post was just published on ZYX Buy Change Alert.
SAN is the largest Spanish bank. If our models are correct regarding Greece (please see Morning Capsule), then it is time to initiate or add to SAN. The new buy zone is $6.13 to $7.31. The stock is trading at $7.20 as of this writing. Consider accumulating up to 60% of the full core position size.
Target zone remains $16 to $18.
It is best to trade this without a hard stop. Mental stop on half the position under $5.73.
This is a very long-term position.
As a reminder, there is a 9.9% dividend yield on SAN.
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