BLK Put it on your Radar

As the very recent trend seems to be to go after those banks that have exposure to European debt, BLK may be a huge prize on a short sale. The trend has shifted dramatically from Greece and PIIGS in general to very specifically, Italy. BlackRock's Chief Investment officer on October 21st said that they remain a buyer of Italy's debt and that, "We think Italy is attractive". Well they lost quite a bit of money if they put their money where their mouth is.

Recent 3C charts show sme troubling signs as the shift to focus on Itly over the past few days has taken place.

 First the long term chart has underperformed the market horribly, 2011 should be at higher highs, secondly, they top in place has a neckline (support) not too far below these price levels.

 The 15 min hart looks like a lot of 15 min chart, there's a clear island top from the October rally. Even BLK's October rally was a bit of a dud.

 Over the last several days there was a huge leading positive divergence, look how quickly that has turned around keeping in mind the new focus on Italy.

The 1 min hart also shows some disturbing action over the last few days, which is about the same time Italy started to come in to the limelight.