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Ever since May, a bearish cloud has been hovering above JPMorgan Chase & Co. (NYSE:JPM). May marked the public disclosure of embarrassing trading losses valued at $2 billion. The losses were publicly acknowledged by bank chief Jamie Dimon on May 10. Dipping below the break-even point was unexpected and all fingers were pointed at a trader who has since been dubbed the London Whale.

Wednesday morning now adds a new twist to the long story. It is now clear that JPMorgan has sold off majority of the losing corporate-credit positions. This will hopefully draw the curtains on the deplorable episode at JPMorgan.

In past weeks, the financial big wig has stripped itself of an estimated 65 -70 percent of its holdings. This has been facilitated through the CDX IG 9- a bond derivative index that tracks a sealed cross-section of corporate debt tools. JPMorgan has divested itself in an attempt to make amends and possibly restore tranquility at JPMorgan. It should be noted that Jamie Dimon has been compelled to testify about the London Whale two times in the past one and a half weeks.

The dreaded losses have been detrimental to JPMorgan’s shares that have fallen more than 11% since May. The $2 billion losses are also deemed by credit traders to have ballooned following hostile market conditions. The credit traders actually suggest that overall losses may have reached highs of $5 billion.

Selling these ‘tabooed’ positions however spells a sign of hope as shreds of bullishness have begun creeping in. On Wednesday morning, following the report of the news, JPMorgan shares shot 2%.