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!

Posted by Greg Feirman  ·  Trackback URL  ·  Link