|SAN June 3 2013|
Just updating the SAN chart. The channel lines we drew a couple of weeks ago are holding up well. SAN is in a very shallow uptrend, but that is sustainable and fine for a play like this that you don't want to worry too much about. There is real value in SAN at this price, as shown by the fact that it is sitting at its long-term point of control. It has crossed over all the major moving averages except the 200 day MA, which has been difficult but will happen eventually.
Banco Santander (SAN) is a global banking giant with assets spread out actross the globe, including South America, Europe, and China. If you choose to receive the dividend in shares, it comes out to about 11%. Despite its name and headquarters, only a minority of its assets and obligations are located in Spain.