Tuesday, February 5, 2008

Fincials Gone Wild

Financials have ran up so much that they have run out of steam. Lets take a look at the S&P financials.

We could very easily test the new lows.
I managed to make some money today shorting Capital One Finance, it looks like it has more room for downside.

If you short now, you can easily cover some at 45, then at 42 before it possibly finds support at 40.