Comerica (CMA)

Pretty much the same pattern. The daily chart shows that it broke down out of a symmetrical triangle on 11/9. If we get a rally this week, let’s see if it fails to cross up over the 20EMA or the trendline from the last four sessions, say about $24. If it either breaks quickly down below $20.40, or recovers to $23.50 or so and fails to break above the 20EMA, it’s a good short @ $23 (and buy some puts). Watch for it to take out Thursday’s low of $20.40. Based on the height of the triangle, mid-term target price is $15. I think it will trade down into the $18-19 range by end of week, but if it crosses the 20EMA up, all bets are off for another two weeks (it will go back up to the $26 range and get really interesting to short then).