[youtube:http://www.youtube.com/watch?v=kCvIw7DMHXc 450 300]

Courtesy  of my 12-Year Old:  the New Fly Theme Song!

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I mentioned today that I was looking at banques, and by Banquo’s Ghost I’m excited by what I’ve been seeing…  Let’s look at the “big bank index” first in [[BKX]] —

Sure, it’s overbought, but it’s also broken away from EMA’s that were keeping it down since Mid-October.  With the strength of this move, you have to believe there’s more juice in the banks, and consequently, the market.

Even more interesting is the smaller cap regional bank holding ETF [[KRE]] .   It’s not so overbought and really just breaking out today.  

It’s full of crazy stuff like Bank of Hawaii Corporation [[BOH]] and East West Bancorp, Inc. [[EWBC]] , but that’s not the point.  

At least not for me. 

What it means to me is that the regionals are getting healthy, and what’s more, getting bought in this market.  Check Huntington Bancshares Incorporated [[HBAN]] for an audacious example, but I like the stronger more conservative plays like PNC Financial Services [[PNC]] and BB&T Corporation BB&T Corporation [[BBT]] .  

We’ll explore this more next week, perhaps after a bit of a drawback from all this giddyness.   Or Jake Gittes’ness, if you will.  

 The good news is that, because we are coming out of a consolidation, we should have some nice low hanging fruit to gather, ovah heah.

Best to you all.

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