Financials have clearly lagged the broader market with the sector down 6.98% in the past month versus the S&P 500 losing 3.97%, and down 26.87% year to date versus the S&P flagging 10%.
With prominent banking and financial names such as Bank of America, Morgan Stanley and Citigroup (NYSE: C) trading at their lowest levels since the crisis in 2009, it is evident to us that investors are using this extreme weakness as aggressive entry points in the sector, perhaps making “valuation” calls. [Stock Sell-Off Brings Out Value Investors]
Direxion Daily Financial Bull 3X Shares
Chart source: StockCharts.com.
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