The Decline and Fall of Financials

Look at the stunning decline in the S&P 500 Financial Index (^SPSY).

Notice how the line went from being somewhat smooth to being extremely jagged. Barry Ritholtz notes that there have been an amazing 12 rallies of 5% or more in the Financials Index since it topped out.
Here’s a look at the daily changes. Sometimes a chart says it all:

Posted by Eddy Elfenbein on April 29th, 2008 at 2:55 pm

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.