Market Overview

Still Don't Own The Financials

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Back on Dec 8th as the markets were getting euphoric and banks had a strong move up, we wrote to dump the banks and gave price levels to look for. Since that article, C & JPM are down about -4%, while MS, GS and BAc are down -%5 to -6%. We look at both RSI and STD deviation below the 21 Day Moving Average and neither are indicating even close to being over sold. At this juncture we don't want to be long these names and think if you want to get long look at the following levels to get long.

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