Financials set for another big rally

Discussion in 'Trading' started by DeepFried, Feb 7, 2008.

  1. Reverse head and shoulders formation in Philly Bank Index (BKX). Same thing in Citigroup's chart, MA and COF. The Morgan Stanley Cyclical's chart (CYC). Several other stocks and indices as well.

    The market has retraced the initial rate cut rally in the financials and will soon turn back to repricing them for a low interest rate environment.

    Okay...let the open-mouthed, incoherent flaming and shouting begin! :D