In an absolute storm of a week having a nice juicy trade in the bank tastes even sweeter. Our RTX pick from last Monday jumped from 7.30 to 11.55 while the market took a huge haircut. If you didn’t lock it in, there will still be some meat on the bone this morning so don’t let it get away.

One of the sectors that got hit hard last week was the banking sector. We felt it in our BAC play we had to scramble out of but it created a dip for some other tickers that may have been pulled down too far. Here is one that is looking to swing back. Take a look at this chart and see if this set up looks good to you.

BNY took a hit mid week but snapped back a bit in the headwind of the broader market. The Dec 18 145 calls are at 4.65 this morning and we are going to watch the open to see if it is a trade that continues to look good. The doji candle to close the week is a bit ominous. If we can see it start to break to the upside this morning that may be the entry we want.

The market is sharp right now so make sure you don’t turn your back on any trade you are in. We pointed out that the inverse ETF SQQQ had some potential as a hedge against a bigger market drop so consider that as some protection if the market gets more squirrely.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily