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Trade Findings and Adjustments 09-08-22

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Trade Findings and Adjustments 09-08-22

Keve Bybee – keve@hurleyinvestments.com

  • Market seems to be having a short bounce on a support price level, but there is no real positive news that looks to push markets higher.
  • We are also in the bearish months of the year
  • Market look looks to test the 50 day moving average where we will look to add something like a SPY Bear Put spread to give us more protection on the way down.
  • Why SPY Bear Put? The spread will make it a bit cheaper as these options are very expensive.

BAC, JPM

  • Possibly taking protection off
  • Article on CNBC from Hugh Son and Michael Bloom highlighting how banks should do well in rising interest rate environment IF the economy avoids a recession
  • “Loan balances for the industry are heading for a 2.6% quarter-over-quarter increase… With higher rates should support more net interest revenue growth.”
  • “Loan losses on credit cards and other products are still low”
  • Analysts say 20% upside on banks
  • 30% upside on BAC, JPM, GS

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