With a potential warning despite all time highs bank stocks kick iing off earnis season this morning. Jpmorgan, citigroup, well fargo pnc all in the red as the rest of the market rallied to record highs. Next week, netflix, qualcomm, united health, johnson and johnen, just a that are reporting. Are the banks sending the rest of the market a warning and is this about to look like selling season zm guy . I dont think so yet. Jpmorgans quarter wasnt great, but it wasnt a disaster if youre bearish in jpmorgan, it gave you ammo the reason why in my opinion, it didnt rally and didnt solve that hard is pause all along, weve talked about the metric to lock out with the banks. To me, its priced a tangible boat jpmorgan, tangible book 53. 5 dollar, so its trading close to 1. 8 times tangible book, which is where we thought the banks would top out. Some other banks are not close citi being the biggest example, so, although jpmorgan was disappointing price action wise, i dont think youre going to