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Financials still rising

By admin | March 18, 2009

Just when I thought the financials were going to pull back, they continue to rise. Citi C up 10%+, Bank of America BAC up 3%+, Wells Fargo WFC up 7%+, JP Morgan JPM up 9%+. Couple times today I thought WFC and BAC were going to roll over and head down. JPM and BAC have broken through their down trends.

Can we expect this trend to continue the rest of the week? What is driving this? Are the shorts still covering?  Let me know what you think.

Topics: Stocks |

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