This week has been basically a sell Obama exercise. And why wouldn’t it be? He is bringing regulations and getting tough on the big guys of the marketplace. So they will keep selling until the market blows them away.
It is interesting that this week the financial ETF “XLF” is gaining on the general market ETF “SPY”. And this is happening in spite of the fact that the new banking plan has yet to be introduced.
I will be out of town the next two days and probably will not make a comment unless something notable occurs.
The EMA ETF Fund NAV was 885 at the close yesterday.
7:02 PM CST