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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Fri Jan 18, 2008 3:46 am Post subject: Banking Index Sounding Stock Market Alarm Bells |
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By: Marty_Chenard
Too often, investors only look at the short and medium term trends in the markets. When we have had a year with exceptionally damaging sub-prime problems, it is time to step back and look at 5+ and 15+ year views. It is only the longer term views that can give you a clear picture of how much damage has been done.
Today, we will look at 6 and 16 year views of the Banking Index ... symbol: BKX.
Let's start with 6 year view of the Banking Index. The Banking Sector did remarkably well from July 2002 to February of 2007. Looking at the chart, you can see that it had a steady up trend during that time which produced a 100.73% move to the upside.
But, that ended in March of 2007 when the Banking Index had hit its peak. Five months later, the Index broke its 5 year support to the downside. And now, 11 months after the peak, the Banking Index has given up over two thirds of a rise that was 5 years in the making.
Clearly, a lot of damaged occurred in the past year. See the next chart ...
http://www.marketoracle.co.uk/Article3326.html |
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