SAN May 24 2013

SAN Daily Chart May 24 2013

How you feel about SAN here is going to depend, most likely, on how you feel about the prospects for the broader market. If you think the little correction we have had will lead to buying, SAN is perfectly positioned at the bottom of its uptrend channel for a low-risk pick-up. Just put a stop right below the channel and see what develops.

This is a long-term play with a healthy dividend, best for retirement plans. You can trade it, but you'll need patience and have to account for the dividend. One way to get the dividend, which increases your return, is to receive the scrip shares SAN issues. As one of the largest banks in the world, diversified globally, SAN is the equivalent of Citicorp in the States. Those types of stocks can languish for long periods, but they usually recover at some point because they have real value.