When J.P. Morgan Chase & Co.(NYSE:JPM) bounces or trades higher the major stock indexes move higher. When this leading bank stock declines the major stock indexes moves lower. At this time, when there is a banking and financial crisis taking place traders can simply follow the leading financial stock in the market and that is JPM stock.
If we have learned one thing since the 2007 top it is that the financial stocks are the most important sector that a trader or investor can follow. When the financial stocks decline it is prudent to expect the major stock indexes to follow right behind them. In 2008, the financial crisis was all about the large banks and in 2011 it is still all about the large banks.
The large financial Stocks have lead the markets lower throughout 2011. This morning, bank stocks around the world are declining sharply lower. The leading bank stock in the United States is J.P. Morgan Chase & Co.(NYSE:JPM). This market leading financial stock is declining lower by $1.92 to $34.56 a share. The low for JPM stock was made last week at $33.69 a share on August 9, 2011.
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