This post was just published on ZYX Buy Change Alert.
JP Morgan (JPM) is long from $34.14. It is trading at $110.33 up $4.10 as of this writing.
JPM reported earnings better than consensus and better than the whisper numbers.
Our call on prior quarter earnings has now proven spot on. We wrote:
This is likely to be a temporary phenomenon.
This quarter’s earnings show that our analysis was correct.
The company also pays a dividend of 3.04%.
‘Buy Now’ Rating
For those following the ‘Good Way,’ the ‘Buy Now’ rating is ‘YES.’
For those following the ‘Best Way,’ the buy zone is $91 to 100.88. The target zone is $145 to $155. The recommended position size is 20 – 40%.
What To Do Now
Those in the stock may consider continuing to hold.
Those following the ‘Good Way’ may consider starting a small scale in right here.
Those following the ‘Best Way’ may consider scaling in within the buy zone.
- JPM, BAC and C are large money center banks. There are reasons to own all three of them.
- If you have a large portfolio, it is appropriate to buy JPM, BAC and C. However make sure you are comfortable with a position size of all three combined.
- If you have a small portfolio, consider owning only one of the three. C has the most upside potential.
- If you do not own any of these banks and can own only one, C is the best choice at this time. C earnings are ahead and pose a risk on both the upside and down side.
A special note to new subscribers: If you are not yet ready for the sophistication of the site and the ‘Best Way’, consider starting with the ‘Good Way.’ Please study Getting A Running Start and Trade Management Guidelines. Please note that this is a very long term position. The plan is to accumulate more if the stock goes down, ultimately up to 100% of full core position size.
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