Financials Relatively Weak To Huge Rally

strength is in ba,mmm,pg,cat,dd....i would expect to see 3pt gains in financial stocks but see mostly 1pt or less...bac might be setting up for a good short next week.

 

Weak? The Philly Bank index gained 32.5% relative to the SP500 since the middle of July. It's outperforming the broad market by 1.3% today.

 

was referring to todays rally.

single pt gains in bac c wb not impressive when market is up 300pts.

 

Philly Bank Index +3.6%, SP500 +2.4%. Banks are outperforming today. Case closed.

 

ya ,sure...bac,c,wb,mer closed up less than a buck...pretty weak relative to what they normally do on a huge rally...they usually rally multi pts not pennies....

 

I guess you haven't recognized the fact that the market ROTATES from one group to another . . . Not necessarily a sign of "weakness" as you have implied with the financials. Simply a broadening-out of the leadership to other groups as the market heads higher.

ie.) Aerospace and Defense was one of the market leaders today . . . +3.17%

LMT, LLL, GD, BA, PCP, RTN, and NOC with huge multi-point gains!

 

you didnt recognize that i said this might be setting up for a good short.