I've Taken A Long Position In BXS at $13.71
If you joined us for the Sunday Night Kick-Off last night, you'll know that I pointed out Bancorpsouth (BXS) as a solid long opportunity. On any weakness today I was going to buy it, and it gave me just enough to pull the trigger this morning.
So then, my entry is $13.71 with a stop-loss at $13.39 with a target of $15.11.
The market as a whole this morning has done a good job off of bouncing off of the morning opening lows. But is facing resistance at the 50-day moving average. I would love to see us blast right through that resistance, but I think it is easier said than done at this point.
Here's the BXS chart: