UPDATE ON JPMORGAN AND CITIGROUP AFTER EARNINGS $JPM $C

UPDATE ON JPMORGAN AND CITIGROUP AFTER EARNINGS $JPM $C

This post was just published on ZYX Buy Change Alert.

Signal(s) to enter, add, reduce, exit, hold or change.

JPMorgan (JPM) stock is long from $34.14.  It is trading at $110.88 as of this writing.

Citigroup ( C)stock is long from $33.80. It is trading at $70.57  as of this writing.

JPM and C reported earnings better than consensus and whisper numbers.  JPM stock traded as high as $115.15  and C stock  traded as high as $73.38 after earnings.

As of this writing bank stocks are experiencing a ‘sell the news’ reaction. Such a reaction is quite common.  Professionals who bought these stocks in anticipation of good earnings over the last couple of weeks for short term trades, sold into the strength.  Selling often begets selling by the momo crowd. The momo crowd is heavily selling bank stocks.

Pundits are paid to explain after the fact. It is not of much use to investors because it is after the fact.  The excuse pundits have come up with is lackluster loan growth. In our analysis, this is not a big concern at this time.

JPM Zones And Ratings

JPM ‘Buy Now’ rating is a ‘YES’ for those following the ‘Good Way.’  For those following the ‘Best Way’ the JPM buy zone is $91 to $100.88.  The markets are volatile, that is why a wide buy zone is needed.  Please see Trade Management Guidelines for how to scale in.  Buy zones are designed for a 70% probability of a fill over the next 120 days.  The target zone is $145 to $155.  JPM also has 1.98% dividend.  This is a very long-term position.

C Zones And Ratings

C ‘Buy Now’ rating is a ‘YES’ for those following the ‘Good Way.’  For those following the ‘Best Way’ the C buy zone is $62 to $67.58.  The markets are volatile, that is why a wide buy zone is needed.  Please see Trade Management Guidelines for how to scale in.  Buy zones are designed for a 70% probability of a fill over the next 120 days.  The target zone is $140 to $160.  This is a very long-term position.

 

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