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that this sector will likely break through this
resistance level to the upside sometime in the
next month or two, and when that happens, we
will consider the sector a buy. For now,
however, we have a sell on these stocks.
Monday, December 11, 2000: Sell
coming. We've been getting quite a few bearish
signals on financial stocks lately, with
two-thirds of the stocks we follow giving these
signals in the last two trading days. Financials
have come up almost 15% since our buy call on
November 20 and are now hitting a resistance
area at all-time high levels that they've hit
three times already this year. With the interest
rate outlook giving a more bullish picture for
the markets (particularly for financials), it is
possible that financials could break through
this resistance. We believe that a sell is
probable, however, if stocks in this area moves
up more than another 5% or so, it is likely that
a buy will be triggered and they will continue
moving up and we would recommend repurchasing
financial holdings.
· November
2000
· October
2000
·
September
2000
·
August
2000
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