JPM. Raised dividend. Buyback. I have none. In fact I have no financials. (Sing to tune: Yes I have no bananas.)
Good news from financials and lack of bad news from the Fed brought on a strong rally in all sectors today, except gold and utilities. Financials and tech were best performing. Usual suspects.
Tuesday, March 13, 2012
Mid Morning Thread
We're a talky bunch this morning. Market seems strong in many segments including financials and most other sectors. Keep staying with what's working.
Morning Thread
Gator's Chart of the Day: EXC |
The stock has been in a volatility squeeze with Bollinger band width just 3.1% of 20 day simple moving average. It bounced from the lower band on Friday and popped through the upper band today on very high volume and smacked into the 50 day sma closing just below it. With a short ratio of 6 and a dividend yield of 5.25% there could be a short squeeze just getting started. Either another move through the 50 day or a grind sideways for a couple of days allowing the 50 day to move beneath the price should provide some support with the dividend helping. The stock should go ex-dividend in early May.