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 on April 29th, 2008 at 2:55 pm

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