Nicole Elliott, Private Investor and Technical Analyst, was out on TipTV today warning investors that an economy cannot thrive with the banking sector down on its knees. Elliott added that the focus was on the banking shares with some of them in bad shape.
While discussing banking stocks, Elliott pointed out the wild swings in Deutsche bank stock and thus referred to it as the one that should not be sold to ‘widows and orphans’.
Talking about the rally since mid-February, Elliott pointed out that only few companies are doing the heavy lifting, which makes the index “inherently unstable”