Our Senior Trader on Banks, Bonds, and 'Bad' Stocks

Schaeffer's Senior Equity Analyst Joe Bell, CMT, isn't so hot on CPB, PFE, and TAP

Jan 11, 2017 at 2:10 PM
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Schaeffer's Senior Equity Analyst Joe Bell, CMT, spends all day looking at stock charts to identify potential options trading opportunities. So, we invited him to share some quick thoughts on what stocks he's eyeing (and avoiding), as well as his take on the start of earnings season.

What charts are you looking at today?

The iShares 20+ Year Treasury Bond ETF (TLT) continues to bounce, as everyone is getting caught off guard with rates declining, when the consensus had been they would go nowhere but up. Another stock I'm watching is Baidu Inc (ADR) (NASDAQ:BIDU), as it's potentially breaking out of long-term triangle pattern.

What stocks do you hate right now?

It's hard to hate anything with the stock market near all-time highs. But we just opened Campbell Soup Company (NYSE:CPB) puts in our Hedge Hunter service. Also, Pfizer Inc. (NYSE:PFE) is hitting its 200-day moving average, and potentially breaking down from a rising wedge pattern. And Molson Coors Brewing Co (NYSE:TAP) is also reversing lower off its 200-day trendline, and breaking down from a rising wedge.

pfe daily jan 11

Are there any upcoming earnings you're looking forward to? Why?

KB Home (NYSE:KBH) reports earnings tonight, and we have an Event call on it. Bank of America Corp (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), PNC Financial Services Group Inc (NYSE:PNC), and Wells Fargo & Co (NYSE:WFC) report earnings this week, too. Financial stocks have been on a huge run as rates have risen, and the consensus is very bullish on banks. Bonds have started to rally a little, too, which is the opposite of expectations. What are these companies' earnings and what are their expectations for rates? And how will they react, given how strong they already have rallied in the past couple months?

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