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Quite a day

  1. redabyss

    1,383 Posts.

    Anyone who decided to trade the banks today either made a heap twice over or lost a heap once over.

    After seeming pretty strong a.m. and tempting those of us not really set up for daytrading to stick a toe in the water, the guts promptly dropped out of the banks after 2pm The slide was so spectacular I didnt even bother to dump. Everything went all the way down to support, including NAB that hadnt reached it yesterday, in a 3% slide. Then they rocketed back around 40c in the opposite direction in a very pickable rally, if you were game.

    My feeling is that we just saw the bank lows for awhile, after that spectacular capitulation.

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