Friday, January 22, 2010
JPMorgan Chase (JPM) Update
I agree with Joe Terranova and his JPMorgan Chase (JPM) comments on CNBC's Half-Time on Fast Money (see video clip below). Technicals support buying or adding to position [Itz Pix entered in November 2009 @ $42]. Note testing both the 200 ema * sma, intraday low right @ 50% retracement level. President Obama's banking proposal will take some years to take effect and most likely will get watered down going through Congress. Use the market's fear & weakness to buy &/or add to positions.