Based on Birinyi Associates' sector data, which dates back to 1962, the S&P 500 financial sector has had its best six day move ever. The move puts the sector in the middle of its trading range, at the 50-day moving average.
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I tried to time the bottom of financials (can anyone really do that) by going long on July 14th and got hammered but fortunately made it back.
www.doubleourmoney.ca
Posted by: Double | July 26, 2008 at 01:07 PM
The new short-sale's rule helped tho.
Posted by: Luigi 'spec' Vigilante | August 22, 2008 at 04:31 PM