CA - JPMorgan: Why Being Cautious Was Right And Still Is Right
2024-04-15 11:30:16 ET
Summary
- JPMorgan Chase & Co. investors who chased its recent upside were likely stunned by last week's sharp pullback.
- JPMorgan maintained its NII guidance, but the market likely asked for more.
- JPMorgan investors must be realistic and not fight against the Fed (potentially cutting rates).
- With JPMorgan Chase still not valued attractively, I explain the level that will excite me more.
JPMorgan Chase & Co. ( JPM ) investors suffered a well-deserved reversal as overoptimistic investors attempted to chase further significant upside, but to no avail. In February 2024, I cautioned JPM holders that it was timely to allow even leaders like JPM to take occasional breaks to refresh the bullish thesis, allowing the market to shake out late buyers. As a result, investors shouldn't be stunned by the nearly 6.5% decline on Friday as JPMorgan posted its first-quarter earnings release....
JPMorgan: Why Being Cautious Was Right And Still Is Right