20Oct1:15 pmEST

America Loves a Good Comeback Story, Usually

It is what it is.

You will excuse my lack of exuberance about Bank of America's stock reaching highs not seen since the October 2008 crash, as the firm was essentially insolvent and bankrupt. Nonetheless, in the name of "protecting capitalism," the mother of all bailouts (and a short-selling ban, to boot) seemingly enabled BAC to survive an old-fashioned financial panic, the likes of which would have sent Bank of America executives and shareholders alike begging for scraps in the Bowery during the late-19th century. 

On BAC's monthly chart, below, the uptick in rates late this week looks to be helping virtually all banks.

But also note BAC had been basing tightly for months on end right smack at its prior October 2008 crash area (light blue line). This is typically pretty constructive price action and may very well signal a sustained leg higher, especially if rates do not sit back down soon. 

Elsewhere, Skechers has seemingly been left for dead, along with many other retail names this year. 

However, the SKX monthly, second below, is now very promising for a new leg higher. We want to see the name settle down a few days next week to stalk a proper long entry. But it certainly merits our attention now. 

I Want it Done By the Book Saturday Night at Market Che...

 
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