regional banks are on fire todayI don’t know why, but the Regional Banks in particular and some larger banks too, have some of the best setups out there today. Each of them have similar patterns, and all of them are breaking out to new highs today (some all-time, some just recent).

They also have a a nice existing trend-line that they are bouncing off of and offering a nice level of support underneath the stock for us to trade off of. 

The four regional bank (and one large bank) stocks that I am watching are: 

M&T Bank (MTB)

National Penn Bancshares (NPBC)

First Merit Corp (FMER)

Bank of America (BAC)

I also jumped into Hudson City Bancorp (HCBK) earlier this morning, which also falls under the same category. I am very tempted to add at least one more regional bank to the portfolio before the end of the day as well. 

Here are the charts and trade setups

M&T Bank (MTB)

M and T Bank MTB breaking out swing trade pick

National Penn Bancshares (NPBC)

National Penn Bancshares NPBC swing trade long

First Merit Corp (FMER)

First Merit Corp FMER swing trade long

Bank of America (BAC)

bank of america ascending triangle breakout

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