Thursday, May 2, 2013

SAN May 2 2013

SAN May 2 2013

SAN is fleshing out the new uptrend channel that we tentatively identified in our previous chart. It is performing nicely, and the dividend is a nice way to get paid to wait it out. Banco Santander is a huge, geographically diversified bank that has shrugged off Spain's economic troubles.

SAN was downgraded on May 3 2013, after this was posted, to Sell by Citigroup. As old hands of upgrades/downgrades know, a downgrade to Sell in the crazy world of investing actually is a good thing - because that means they've shot their last bullet. They don't have "Double-dog Sell" ratings. But be aware of the downgrade when you look at SAN, maybe it will mean something to you. The stock was up 1% on the day of the downgrade, showing how much downgrades mean these days to the investing public, who have wised up to the big brokers' games.

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