Traders take their position on bank stocks ahead of earnings
The " Fast Money " traders weighed in on the bank stocks ahead of earnings reports from Citigroup (NYSE: C), Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) before the market open on Friday.
Trader Brian Kelly said he's keeping an eye on the financial sector, but thinks the "banks are a sell here."
Trader Tim Seymour disagreed and said investors should be looking at the banks and find companies with relatively "pristine balance sheets" and "earnings power."
Trader Karen Finerman said she likes the valuation of the banks at current levels.
Disclosures:
TIM SEYMOUR
Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
KAREN FINERMAN
Karen is long AAL, BAC, C, DAL, long DB calls, short DB preferred, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International.
BRIAN KELLY
Brian Kelly is long Bitcoin, DXJ, US Dollar UUP. He is short the euro and Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
