InTheMoneyStocks'  Instablog

Send Message
  • Unveiled: Financial Stocks Upside Limit  0 comments
    Jan 22, 2013 1:03 PM

    The financial stocks like Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM) and Citigroup Inc. (NYSE:C) have been leading the markets substantially higher of late. The their problems appear to be ancient history as the Federal Reserve has allowed them to use every avenue possible to regain their dominance.

    While these stocks have shown impressive upside, they are extremely extended. A pull back is imminent. JPMorgan is currently trading at $46.33. Just above this level lies the high pivot from 2011 at $48.35. In addition Goldman Sachs also has a major level near the $150.00 area. Almost all the financial stocks have key levels approaching. When they tag these levels, downside should begin. Look for a 10% pull back on all names across the board.

    Gareth Soloway

Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • Gareth had members buy $ICLD yesterday at $2.65. Today he sold at $3.35. 26% profit in a day. The chart told everything, learn to read them!
    Jun 3, 2015
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.