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The Chartman

Betting on the ‘Darth Vader’ of Finance

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Despite all the naysaying, the market continues to behave nicely. Of course, there’s always a “but” and in this case, it’s still the old highs from 2012 that pose a problem.  The market has moved up fairly rapidly, and in cases like that, I expect a pullback before resistance is broken. But, I think that breakout will happen sooner rather than later.

I haven’t looked at financials in awhile, so I thought it was a good time to look at two big names.  The first is Bank of America (NYSE:BAC), and it’s one I’ve always played on pullbacks. If you’re in that camp, there might be a buying opportunity soon.

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The other is Goldman Sachs (NYSE:GS). It’s always portrayed as the Darth Vader of the financial sector, but unlike Mr. Vader, it refuses to die.

I’m taking a short vacation next week, but I’ll be back in full force to kick off February.