Sunday, February 3, 2013

Chartology: Own a Piece of the New World Order on a Multi-year Breakout (JPM)

Back in late November BAC was trading at $9.82 when we posted "Bank of America Stalls at Multi-month Resistance (BAC)" with this chart from Alpha Global Investors:

My comment:
Who knows, maybe 5th time's the charm.
The fifth time was the charm and  the stock is trading at $11.71 down from a 20 month high of $12.20 reached on January 7th.

Here's Alpha Global on JPM:


JP Morgan Chase Co. (JPM) monthly chart...MORE

Just kidding about the NWO stuff.
JPM's Chairman raised some eyebrows at Davos this year with comments like this via CNBC:
...He refuted claims that it was impossible to know whether global financial institutions were actually risky or sound and said banks were no more opaque than other businesses....
Either he's so confident in his regulatory capture that he'll rip his figurehead policymaker masters or he's been dis-invited for 2014 and figured he had nothing to lose. Stay tuned and I'm thinking mind the gap at $44.