3 Bank Stocks to Sell Now

The banking sector is weak, so side with the bears…

This story was originally published here.

Bank stocks have suffered serial underperformance during the market recovery. And, come to think of it, they also fell a lot harder during the crash. That said, both stats make it impossible to recommend buying the sector or most of its constituents right now. And with fresh selling pressure striking on Tuesday, banks may be an area worth bailing on altogether.

A quick survey of the Financial Sector SPDR (NYSEARCA:XLF) reveals a chart that never quite reclaimed the high ground after March’s massacre. Almost every other sector was able to rally back above their respective 50-day moving averages. But not XLF!

Despite multiple attempts to breach this critical level, financials were rejected every time. And now, with Tuesday’s 2.65% slide, XLF and the broad swath of banks that call it home, are a banana peel away from tumbling through the floor. It’s a stumble that will spell the death knell for its fledgling uptrend.

Overall, while there are many bank stocks worth abandoning or deploying bearish trades on, these are three of the most vulnerable…

Editor's Note: Click here to keep reading.

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