After four days of strong performance that saw share prices rise from $47.08 last Friday to $49.99 yesterday, JPMorgan Chase (NYSE:JPM) may be entering a cooling-off period today. At midday, the stock is down 0.82%. Is nervousness over the upcoming shareholder meeting finally coming back into play?

Red-letter day
But before we dive into that rabbit hole, let's have a look at where the superbank's peers and the markets are shaking out so far:

  • Bank of America is down 0.42%.
  • Citigroup is down 1.38%.
  • And Wells Fargo is down by 0.42%.

The markets are all down, too, with the broader S&P 500 down 0.19%, the narrower Dow Jones Industrial Average down 0.04%, and the Nasdaq Composite down 0.01%.

High anxiety?
This year, JPMorgan's annual shareholder meeting will be held May 21 in Tampa, FL. These yearly events have traditionally been non-events for companies, with perhaps the occasional angry stockholder or gadfly analyst asking the CEO uncomfortable questions while everyone else drinks too much, eats too much, and plays terrible golf.

But in the last few years, there's been a sea change for these events. Investors in every sector are becoming more activist, with large shareholders and investment advisory groups making their voices heard on a wide range of issues. For JPMorgan, this year's annual shareholder meeting is shaping up to be a doozy, with CEO and COB Jamie Dimon facing a proxy vote to split off his role of COB.

The pressure is getting intense, with recommendations from two proxy advisor companies -- Institutional Shareholder Services and Glass Lewis -- now calling for the split. Investors have definitely shrugged off any feelings of uncertainty and anxiousness over the last four days. But with the meeting now less than two weeks away, and an unrelenting press of media coverage, today might be the day when investors take a breather and reassess things.

Of course, if you look at the bigger picture, all of the big four banks are down today, as well as the markets in general, and JPMorgan might just be going along for the ride. And that illustrates the danger of checking your stocks too often: In the short term, prices move up and down, occasionally drastically, which is why we stress a long-term outlook here at The Motley Fool.

Stay focused on the fundamentals of the companies you're invested in, check in with them once a month or once a quarter, and leave the obsessive ticker check-ins to the day traders. Your portfolio will thank you, even if your broker won't. 

Fool contributor John Grgurich owns shares of Citigroup and JPMorgan Chase. Follow John's dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich.

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