Novice Trade: J.P. Morgan

With the selloff in financials today, I might take this opportunity to reload. While the mess over the weekend may have caused some problems for the Trump administration, it appears that tax reform is still on pace to be done this year.

Additionally, I think the market is finally in agreement with the Fed -- and rates will go up three times -- maybe four -- this year. That type of interest rate movement, combined with regulation and tax reform, means that big banks will be the easy trade for the time being -- even at these high prices. I think J.P. Morgan (JPM) might get to $100 before all is said and done -- maybe not this week, but probably this year. For now, I would just play a quick rebound. I can buy a call with two weeks to expiration -- that was in the money by about a dollar on Friday -- for about $0.97. It'll be worth $2 by Friday....10 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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