Initiating a short in BAC. Market looks like in correction mode. BAC has been the laggard of the financials the entire run. SHORT 11.50 X 11.60 for stop. Target 1: 11.00, Target 2: 10.50 range. May do an add on once the 60m 20ma rolls over and i get another sell set up.
not only is there better stuff to short then something under tangible, but he also said BAC has been the laggard, what other financial company went up about 100% last year?
Apple may continue to ralley. It bounced real nice off it's 38.2% fib retracement level of 435.00. Technicals obviously still bearish though.