XLF And Financials
April 24, 2008 10:52 PM
I am not sure why such strength in financials. I am still very skeptical of the group. GS did finally clear an important high today and caused a spike in it however. it took 2 months to clear it, but it finally did today. I shouldn’t get too much into the macro environment as the reality is near term - it simply isn’t relevant, the market’s can be dead wrong for a long time. Today’s strength did very much surprise me, both in financials and the general market. There was no clear cut direction for today, so I simply was not certain, and said so… Per usual, I would rather let other’s “guess”.
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