iBankCoin
Joined Jan 27, 2008
7,252 Blog Posts

BANKS RALLY; FEELING BULLISH… iDK

Louisiana ends the stay at home orders as of tomorrow, and many small business, including my own, can reopen to the public. I was one of the lucky ones to receive PPP money to aid with payroll. I received it, because my accountant is fast and my relationship with my local bank is phenomenal. There are many lessons in that last statement.

Speaking of banks, we finally witnessed a rally in the financials. $WFC, the problem child, got off to a good start and never looked back. My master screen inside Exodus pinned the banks down early:

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It’s pretty hard to be bearish when $WFC is ripping higher, let’s see if the momentum continues to end the week. For a full look at Thursday’s screen: CLICK HERE FOR CHARTS.

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One comment

  1. Doubleplus

    My dad has a running “rules of life” list on a ranked scale that he’s been preaching over the last 40+ years, and you just nailed the first three.

    1. Always take the money.
    2. Always keep the money.
    3. A banker is never your friend when you need them.

    Glad to hear you beat #3. Hope business goes bananas there in LA.

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