In light of the correction that seems to be developing, yesterday's post about possible bank stock out-performance has been re-assessed. My view is that these securities should no longer be held for out-performance relative to the market.
Bank stocks today are weakening after a some recent relative strength. I would be concerned that this new weakness will persist and that holding the banks mentioned would not be a good idea.
There seem to be other areas for relative out-performance that offer a better return for risk taken. Please send me an email to discuss.
Not a recommendation. Do your own due diligence.
Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in BAC over the next 72 hours.
Additional disclosure: Positions change day to day based on trend developments.