Oct
14
Who would have thought during all the bank bailouts that JPM could be in a position to breakout over its all time high only months later?
The stock is currently trading at up $47.50 in the pre-market after an earnings beat. Let’s see if it stays contained under its all-time high at $50.
(7:32 ET): We have the retail sales number at 8:30 ET which will also likely be a market moving cataylst. For now, the overnight range is 1068-1086. A very large range and with the top just having been put in after the JPM earnings number it is entirely possible that this will need to be adjusted before the market opens.
I’ll be watching DIA more closely than SPY today. The media focus will be on the Dow recovering above 10,000 and this level also corresponds with the Dow clearing the Lehman gap.
More on this topic
(What's this?)
Does Judge Rakoff Smackdown of Heinous JP Morgan Conduct Mark Beginning of a Sea Change?
(naked capitalism, 2/20/10)
HOW JP MORGAN IS TRADING THIS MARKET
(THE PRAGMATIC CAPITALIST, 10/18/09)
JP MORGAN STRATEGY UPDATE – ASSET REFLATION IS TAKING OVER
(THE PRAGMATIC CAPITALIST, 10/7/09)
Sold JPM Naked Puts
(My Trader's Journal, 3/2/10)
