Monday, June 09, 2008

This Group Is Leading The Market Lower



Above is a daily chart of the Bank Index (BKX). Notice how weak these stocks have been over the last month and especially today and yesterday. The Bank stocks are what is leading the stock market lower along with the mortgage and housing stocks.

2 comments:

Anonymous said...

Kevin, do you think the weakness in banks will 'spread' into other stocks. Or do you think S&P500, ex-banks will hold up? Great blog by the way - I've worked in the markets 5yrs now and its the only blog I bother to read.

Kevin said...

Thanks for the nice comments..

I don't think the banks will pull all the sectors down. There is strength in NASDAQ and commodity related stocks.. I think you can play this market from both sides...Long and short, but for right now I think we will see some more weakness.

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