September 22nd, 2008, 5:34 am. Posted under Trade Alert !! by AppleOption.
Talking about the financial sector, it is interesting to note the XLF. This is the financial ETF which is back to the same level it was in June ~$22 despite major changes with AIG, C, FRE, FNM, and LEH. AIG was a 7% holding in this ETF, Citigroup another major component, and FRE, FNM & LEH are basically worthless… so it is a surprise. That the XLF is up to these levels!
We need to hold ~$22 this week in this sector to really see any turn around to bring investors back to the market.