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Why I am shorting JP Morgan: Berger
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Serge Berger believes that JP Morgan is a sell and several factors play a role in this trade view. He says that the stock is overbought from a momentum perspective. Recent earning reports from large US banks like Wells Fargo and JP Morgan came in below expectations on many points. The Fed has difficulty in creating higher interest rates which is not supportive for the banking sector. Berger would like to sell or buy puts at $62 with a stop at $62 and a target of $59.50.