financial sector

New activity - tracking what is going on in the financial sector. Big players - Bank of America, Sun Trust (regional), BNS (Cdn) and other ETFs for comparison - gold miners, financial sector index, NASDAQ, S&P, government bonds - short and TIPS, and bear fund.

BAC BK OF AMERICA CP 17.33 ind leadr
BNS BANK OF NOVA SCOTIA 44.86 cdn ind leadr
GDX MKT VECT GOLD MNRS 48.69 gold miners
QQQQ PowerShares Exchange-Traded Fun 42.24 nasdaq
SHY ISHARES BRCLY 1-3YR 84.00 short govt 1-3 yr
SPY S&P DEP RECEIPTS 106.61 s&p
STI SUNTRUST BANKS 22.33 regional
TBT PROSHARES TRUST 44.03 bear
TIP ISHARES BARCLAYS TIP 103.32 us govt tips
XLF FINANCIAL SEL SPDR 15.11 financial ind

TBT PROSHARES TRUST - twice the inverse of the daily performance of the Barclays Capital 20+ Year U.S. Treasury index - is this staying roughly in line with what is happening on the bull side. Looking for anomalies in the bull/bear offsets.

BNS BANK OF NOVA SCOTIA - is a big Canadian bank following roughly the same path as the US banks?

All but TBT above both 50d and 200d moving averages.
At or near 52-wk top : BNS , GDX , QQQQ , SPY , TIP

Discussion - the stock market and the financial sector, in particular, are going great guns while there is a total disconnect from the real world where foreclosures, unemployment, out-of-control healthcare costs and government spending are serious concerns for Joe and Jane.

What would Jesse Livermore do? 3 x 20% of total as tests to confirm that trend is going correct direction, acquire remaining 40% then wait for "signal" to exit position. Limit loss to 10%. Allow profit to run.
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