Bank stocks are most heavily swayed during election year especially as the polling dates approach. I wouldn't lean either way with it as the hike has been going back and forth very liberally. Try not to get persuaded by the index headlines; they are a load of bs. I like to call the market lately, very "touchy". As say this because when oil is down and there is slight red in the futures they come up with how the economy is slow and all this pessimistic nonsense. When oil is up and there is slight green in the futures they come up with how the economy is improving and all this optimistic nonsense. My simple answer to your question is, take every article you read that has to do with the U.S. and even overseas with a grain of salt. The indexes are so dramatically inflated and overvalued (even BAC regardless if it's the most undervalued bank stock) we will see a pullback and I promise a load of headlines referring to a stock market collapse is on the horizon even though this market has been rallying for months and certain investors think it will keep climbing forever.
As you know, I do like to short however, I'm not just saying this as a bear, I'm saying this as a day trader who is looking at the big picture and not being blind as to what is really happening to the market. The ironic thing that I keep reminiscing about is how headlines, news stations, the "big" investors etc were babbling about how Brexit would never happen. Do you know what I did? I think you were on this board during that time so you may have seen my posts about shorting ahead of the polls. Instead of listening to the nonsense on tv and U.S. Index articles how everyone knew they weren't going to leave, I read an immense amount of blogs and chatting boards of opinions of the people who would actually be voting. From that I drew my own conclusion that it would happen and shorted my ENTIRE account 2 days prior to the polling date. I'm sure you know how I made out from that one.
Anyway, sorry for the rambling and getting off topic a bit but the principle of what I'm saying is that draw your own conclusion and don't let these articles persuade you as that is the only thing they are written for to begin with.
