Earnings for Financials

From Manyanville:


Next week nearly every large bank including Goldman Sachs (GS), Morgan Stanley (MS), Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC) will report. Regional bank Suntrust (STI) and credit-card company American Express (AXP) will also report. Tech giants Google (GOOG), Intel (INTC), and Microsoft (MSFT) will also report, after lowering their guidance in the aftermath of the Thailand floods.

An eye on XLF and these:

Long ETF	Long 2X	Long 3X		Inverse -2X	Inverse -3X
IYF/IYG	UYG	FAS		SKF	FAZ

KRE, the regional bank index bears watching too.  As opposed o thise big companies, they still lend money!  Last week's KRE volume was very good and trades may be possible:

CapitalSource Inc Common Stock- weak	CSE
Webster Financial Corporation C- fair	WBS
Trustmark Corporation- good	TRMK
BB&T Corporation Common Stock - Caution: did >1:1.618 C to D	BBT
Zions Bancorporation - BEST: jumped the creek, buy on ice retest if ok	ZION
Susquehanna Bancshares, Inc. - BEST: On a great uptrend awaiting retracement	SUSQ
Popular, Inc. - Will retest bottom -- weak	BPOP
BancorpSouth, Inc. Common Stock -- good price bounce but weak long term chart	BXS
FIRST REPUBLIC BANK  - at Mega-resistance	FRC
Associated Banc-Corp - Caution: Gartley Butterfly suggest lower prices	ASBC

So, a long trade here assumes the market will continue higher to support it because the individual stocks are not looking robust as a group.  The best, ZION, is quite a bit better looking than the group.  It is a holding company, so may have different basic fundamentals.  It pays a 21 cent dividend too.  But the longer term weekly chart looks weaker than the daily, so trading looks to me to be the only potential safe way to play this stock now.


Ah, here is the problem.  Look at the Monthly chart:

The drop from the 2007 top has had nor even a dead cat (0.382) bounce.  There is not a lot of life in this chart.  I'll proceed in a trade with even more caution as a result.