Alex_Quiroga

Rising interest rates = Buy Banks (#1 CIT)

Long
NYSE:CIT   None
Keeping it simply this is a key resistance breakout in the 50.00 level with a pullback in progress, nothing more to say.
But this is a Big Bank, trading at a relative low price with a P/E Ratio of 17.84
From a trading perspective you can buy now and sell more high,(Swing Trade) but this is the kind of stocks that the big investors like because you are buying Value and status.
Generally I do not care the name of the company but in this case this idea can become in a long term investing (Position Trading).
Before the financial crisis of 2008 this bank was trading at 5,000 per share, and finally after ten years of punishment this sector is showing strength.
Personally I follow about 158 Finance companies and more than 90% of they are bullish and are well know institutions.
This is the kind of opportunity that should not be missed and this moment is unique in time, getting shares of this bank at this price is not something of every day.
But all Lemmings want to buy Cryptocurrencies and discredit Banks.