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The One Bank Worth Playing Right Now – and How to Play It

Tuesday, October 18, 2016 2:33
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(Before It's News)

Financials pulled a world-class fakeout last week, and that’s important for what’s coming next.

You see, on Thursday, markets looked like they were giving up; the major indexes broke through near-term support, and some important psychological support levels were pierced.

The breaking news was that China’s exports had fallen 10%. So industrials, materials, and commodities took the brunt of the selling. China is always a barometer of global growth, because it does lots of the globe’s growing. And so with news of China’s export fall-off, financials were set to release their earnings amid an “atmosphere of reduced expectations,” to put it mildly.

Of course, those expectations have been carefully stage-managed and downplayed all along – there’s that psychology again.

Then on Friday, starting with JPMorgan Chase & Co. before the open, the banks let fly with their earnings, and things got “interesting”…

Tags: Banks

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The post The One Bank Worth Playing Right Now – and How to Play It appeared first on Money Morning – We Make Investing Profitable.

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