So Much For The Rally In The Financials
July 24, 2008 at 12:56 pm · Category: Market Commentary, Stocks
A torrid 1 week, 35%, rally in the financials appears to have come to an abrupt end today. After that explosive move, the financials are selling off to the tune of 6.5% today (XLF 3 Month Chart).
You have to understand that this is a bear market and these fast and furious rallies are to be sold. Trade them if you can but this not a buy and hold market.
But you got to love the action, baby!
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