Banks tumble into a bear market, but not all are no-touch stocks (via TradingNation)
, president of Blue Line Futures, says the banking bust could have come too far, too fast.
Baruch sees two stocks that could shoot back up if bond yields rise and investors return to the banks.is one of them. There's a nice channel from the December low — a trendline that's going up and we're testing near it right now. Just below $195 is the trendline. We're hitting the 200-day moving average. There is good support there in Goldman Sachs, and I think there's value here as well if they stay within that defined channel and recover from here, " said Baruch.
"I don't see this being a capitulation just yet," Gibbs said Wednesday. "Even if the yield curve gets away from being inverted, we're still looking at very flat, very tough margins, very tough growth prospects over the next year."
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