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Short the Bank (and Ignore the News)

Hey, Ross here:

With just a few trading days left till the year’s out, here’s what I have for you today.

Chart of the Day

After climbing more than 40% from July to November, Cullen/Frost Bankers, Inc. (CFR) is rolling over hard.

The pattern we’ve been seeing for the past two months is – big down days, followed by 1–2 weeks of consolidation, then another big down day. 

A quick look at the volume bars also confirms the sellers are in control. We see big drops occurring on above-average volume, while small rallies and consolidations only happen on very low volume.

With shares now below the 200-day moving average, odds of a successful short play are even higher. And last week’s short-covering rally into the 200-day creates a low-risk entry point for a new short trade on CFR.

Insight of the Day

Trying to pick the 2023 winners now is pointless

With 2023 just around the corner, the financial “news” media is full of articles with titles like “Top 10 stocks analysts say to buy for a challenging 2023”.

And while those articles may be fun to read, taking them as serious financial advice is a serious mistake. There are simply way too many factors that could happen within a few months – or even weeks – that could quickly turn these so-called top stocks in bottom-of-the-barrel picks.

To me, trying to find a “perpetual” winner is a fool’s exercise. I’ve found that a much better strategy is to:

  1. Define specific criteria for what makes a stock a potential winner (and why)
  2. Do the painstaking work of analyzing the market to identify those stocks
  3. Then set intelligent targets and stop losses once such a potential winner is identified

That’s exactly what I do in my flagship Alpha Stocks program. I even have a specific formula I use to detect these high-potential stocks – a formula only a handful of traders know about. I explain everything here.

Ross Givens

Editor, Stock Surge Daily

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Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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