JPM, J.P.Morgan update

jpm jan 16 2013 ljpm jan 16 2013 s

Roughly a year ago it looked like JPM had already completed, or was about to complete, a nice a-b-c counter-trend rally at around $36/$39. This obviously proved to be wrong. Instead the stock was working on a much bigger a-b-c. One cannot be entirely sure but it does fit quite well. The company reported a 53% gain in today and the stock goes down in pre-market trading. This stock has now hit the upper line at least 7 times and is valued at levels reached first in 2004. The amazing thing is that despite all changes that have been made, or will be made, that the stock is still up here. A sell .