Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Standard Chartered (STAN) was one of the best performing financial stocks until the debt bubble burst in 2007. While the stock has recovered relatively well from the financial meltdown, it has yet to make a new high above the December 2007 high [1975p]. The stock is still in a bear market and a possible shorting opportunity could be brewing.
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