By Karim Rahemtulla I have one indicator that will serve you well in this type of market…
For a longer-term buy signal, I look to the performance of these four stocks: Wells Fargo (NYSE: WFC), JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Bank of America (NYSE: BAC).
These companies are considered to be money center banks and fall into the category of too big to fail (TBTF).
In order to have a bona fide rally in the market, these “Four Horsemen” must participate. It’s simple really. If banks aren’t performing well, then the underlying economy is not performing well either.
Today, banks in the U.S. are …read more
