(for what good that will do). Target looks met.
http://stockcharts.com/c-sc/sc?s=$BKX:$SPX&p=W&st=1994-01-01&i=p60413616983&a=106612703&r=4828.png
Banks should outperform $SPX from right about here
Started by
spielchekr
, Jul 24 2007 08:19 PM
7 replies to this topic
#2
U.F.O.
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U.F.O.
Posted 24 July 2007 - 08:31 PM
Financials in general are about to get creamed further. We're a year away from the bottom.
U.F.O.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~
~Benjamin Franklin~
#3
spielchekr
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Posted 24 July 2007 - 08:45 PM
Financials in general are about to get creamed further. We're a year away from the bottom.
U.F.O.
Yes, double trouble.
#4
CNSZ
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Posted 24 July 2007 - 08:50 PM
I am not a technical person, so I do not read nor understand stock chart. the thing I know is that no one knows how subprime issue will affect general financial sector, and how deep the affect will be. personally I will avoid touching financial stocks for now.
#5
kaiser soze
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Posted 24 July 2007 - 08:53 PM
Thats a very interesting chart-I didnt know about the inverse correlation since 1998.
It sorta makes sense fundamentally considering the credit bubble began just about the time the dot com bubble was winding down. But the credit bubble may just be starting to unwind now.
A sector that leads a market decline typically does not bottom until its sector bullish percent is atleast in the thirties. The BPFINA hit 50 today-so there's still some distance to go.
Short term, XLF is highly oversold having just crashed out of its lower bollinger band.
#6
traderpaul
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Posted 24 July 2007 - 08:59 PM
Study you chart.....The finnancials lead tthe S&P by two years.....Long way to go on the down side for the S&P.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#7
Sentient Being
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Posted 24 July 2007 - 09:09 PM
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#8
spielchekr
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Posted 24 July 2007 - 09:22 PM
Study you chart.....The finnancials lead tthe S&P by two years.....Long way to go on the down side for the S&P.....
How does 650 trading days grab you? Hmmm, yet another divergence. Sur-priiiiise, sur-priiiiise, sur-priiiiise!
