I want to bring your attention the weekly chart of JP Morgan, ticker JPM (above). As my notes indicate there is a significant, negative divergence going on between volume on JPM and price. As Art Cashin has often said, volume = validity. Govern yourself accordingly.
I am prepared to punt JPM short here, based on this, at $43.76 with a stop at $44.71
Good speculating and remind them to please don't ever forget that "an investor is a speculator who made a mistake and will not admit it".
Long 2 units Ultrashort FTSE/Xinhua China 25 ticker FXP @ $10.58 stops @ $9.94/9.54
Long 1 unit Ultrashort Real Estate ticker SRS @ $11.93 stop @ $10.94
Short 1 unit JP Morgan ticker JPM @ $43.66 stop @ $44.71