Financials' Lowest Relative Close Since March 2009
May 6, 2020
35 is an important level of interest in Regional Banks. A break back below that would complete this consolidation, in my opinion, and offer a nice short opportunity. We only want to be short bank stocks if $KRE is below 35, otherwise it's a no touch.
Meanwhile, the Industrials closed yesterday at their lowest levels relative to the S&P500 since October of 2000.
This just doesn't add up to me getting aggressively long stocks here.
The gold miners, on the other hand, are a completely different story. We're seeing new highs relative and on an absolute basis over there. So that's where we'd rather be.
Check it out: Junior Mining Stocks
JC