Intermediate Trade: Bank of America

As the Donald Trump Jr. news becomes the nothing burger of the week, stocks have started to focus on earnings again. VIX hovering around 10% is enough to put even the angry bear back into the cave. Most of this current earnings cycle seems to revolve around the early big-bank earnings reporting tomorrow. If JPMorgan (JPM) and Wells Fargo (WFC) bring home the dollars, it will most likely look good for other banks as the rest of the earnings move on.

Back of America (BAC) is positioned to report on Tuesday. The option implied volatility should hold up after both WFC and JPM report, so this could be a cheap shot on an upside play as the trend for banks has been a bit sideways. Some decent early numbers should propel a name like BAC higher tomorrow to the highs of last week. If not, we can close for a small loss....75 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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