According to our virtual poll (two participants — ourselves and our evil twin Karnak) Banks rate right up there with politicians and cancer on the hate list. On the rape pillage and plunder index they compete with Attila the Hun. We think they should be muzzled like dogs with rabies. And their pay packages should be rigorously controlled. Their bonuses are an insult and an injury to stockholders and the public.
But in the stock market they are just poker chips and you buy them when they throw off buy signals and sell them when they throw off sell signals.
C has just thrown off a buy signal. As we repeatedly emphasize this is the aggressive trader’s signal. The conservative trader’s signal is when the nearby high is taken out. We intend to add to our C holdings.