Why defense stocks are the future - The Market Sniper

Francis Hunt, The Market Sniper, advises to stay away from banking stocks, and embrace defense stocks, as he joins the Tip TV Studio, to offer the technical outlook for a range of stocks. Also joined by Zak Mir, Technical Analyst at Zak’s Traders Cafe, and Mike Ingram, Strategist at BGC Partners

Highlights:

CommerzBank – Results were less bad than Deutsche bank, but the stock price is heading lower.

Deutsche Bank – Ready to print fresh multi-year lows.

“We are light on the banks and big on guns. Want to be net long anything to do with defense.”

Babcock – Long Wick candles represent massive buying on dips

BAE – Looking a tad toppy, could pull back a bit

Raytheon – The flow of money is being redirected to military after China driven commodity boom topped out.