As discussed the last two weeks JPMorgan continues to look good for further upside.
Today it put in further solid performance and I am taking 2/3 profits. Further in the 'winner winner chicken dinner' camp is CSCO. I opened an initial position in CSCO early last week and added some today.
My first target is somewhere between $20.50 and $20.65. Neither stock is overbought near term but I am getting increasingly cautious and have reduced longs to a mere stump. Sentiment indicators, the VIX, and other 'stuff' is looking very precarious here.
Doesn't mean we fall apart tomorrow, but heading into the first half of January I want to be cautious for now.
