I always liked it when A-team’s George Peppard said “I love it when a plan comes together.”

What a nice swing in BAC, Bank of America from Thursday’s low of $3.77 to $6.40 for a 69% potential profit in 2 days. Volume on BAC was 755 million shares traded which was almost as much as Thursday. All the banks were sold from the stock list except for USB, which hasn’t had the huge swing we saw in WFC, JPM, and BAC. C, Citibank is still acting like a dog so that was sold too.

Hopefully you sold all or most of your bank stocks because the headlines today look like they are going to open down and start pulling back. This afternoon, the main headline was Secretary Treasury Geithner is delaying the banking bailout plan to focus on the stimulus plan. Dow30 futures are down 85 points tonight and banks are likely. A comprehensive stock market education is very necessary to make prudent investment choices.

Banking stocks AGAIN did exactly what we wanted today and they accelerated on the upside with no sell signals throughout the day on Friday. It is very likely that they open down and follow the intraday trading pattern we have used so successfully these past months of a drop and pop, with the pop being very tradable on the long side.

You might have seen the mid-day email regarding a sell recommendation of banking stocks. This is a rare event but USB-US Bancorp is the one banking stock that didn’t move much and has substantially more upside so that is still long.

Oil prices haven’t moved much but is drifting down gradually all week but remains at $40.03 per barrel on Light Sweet Crude. USO is also declining but at a faster rate.