Don’t bank on it. Cashed in C and BAC

2010-10-14-c

http://stockcharts.com/h-sc/ui?s=C&p=D&yr=0&mn=6&dy=0&id=p84818044993&a=203282124

We have long thought that in the long run banks will be good investments.  We still think that way.  It’s the short run we’re worried about.  We are willing to pay more for C and BAC later in order to avoid the risk and annoyance and stranded capital now.  We have had small positions in C and BAC.  We’re selling them.

This is a trading strategy, not a trendfollowing one.

For readers with more stamina than ourselves the trend stop on these is 5% under the September low.

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