For those of you out there that like the fundamental side of trading/investing, here's a video from CNBC with Meredith Whitney who has been stellar the past couple years in identifying strenghts and weaknesses in various individual financial stocks, and financials as a whole. What she is saying here in this interview is one of the many reasons I'm short the XLF, and have been for a while.
The market sold off today but so far has no follow through. It's possible to count the decline from the highs of the year as impulsive, but probably needs to subdivide one more time to a new low to be perfect. Once structure unfolds more and makes things clearer, I'll post my opinion of the short term direction and key levels to watch for. I remain neutral in the short term for now, but a break of 1084 in the S&P cash would get my attention for the bearish side.
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