Monday, April 02, 2007

Banks Continue To Weaken

One of the groups I've been playing from the short side are the banks. I think the other day I posted a list of groups I was playing from the short side such as airlines, banks, home builders, brokers..etc

Today the banks were one of the weakest groups. M&T Bank Corp was down over 8% today. Many other banks and financial stocks were also weak today.

Notice in the above chart how the relative strength line of the Banks vs the S&P is making multi month lows. This just proves my point that you can make money on both sides of the market right now. There is stuff to buy as well as short. Just keep a list of the strong and weak groups and look to get involved on dips to buy and rallies to short. This is what has been working for me the past few weeks.

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