Market Overview

Why You Should Keep An Eye On Citi And JPMorgan This Week

Why You Should Keep An Eye On Citi And JPMorgan This Week

Author Sarah Potter, speaking Tuesday on CNBC, says heading into the earnings season next week, she's looking forward to Citigroup Inc (NYSE: C) and JP Morgan & Chase (NYSE: JPM).

"Both [stocks] offer nice opportunities to the long side and my expectation is that these stocks will continue to pop after we hear their earnings announcements next week," she said.

Potter said there is so much strength here, "and now that we see these big companies come into some earnings, that is only going to be a little bit more of a catalyst to keep the momentum going."

Potter said JPMorgan "can be its own beast" and generally trades on its own as opposed to what the other players do and looks at it as a secondary place to trade.

“The stock itself being over $100 lends itself to a little bit more in terms of options trades,” said Potter. "I don’t want to jump into JPMorgan before the moves happen. I want that stock to pullback first, pick it up at the money around $112 and then carry that into August as well."

JPMorgan's stock closed Tuesday at $113.35, while Citigroup closed at $71.56.

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Posted-In: CNBC Sarah PotterPreviews Options Markets Trading Ideas Best of Benzinga


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