Thursday, January 21, 2010
JPMorgan (JPM) & Proposed New Bank Regulations
President Barack Obama proposed Thursday new rules designed to restrict the size and activities of the U.S.'s largest biggest banks, the latest in a series of administration moves to curb Wall Street. >>READ STORY
My take is that this proposal is very confusing...How do you define 'Proprietary' Or 'Risk'? Sounds like the administration is making this up as they go along?
I would not sell JPM here, let this settle for a few days and see how it plays out as more details emerge. Using $40 level as support and the approaching 200-ma.