This story was originally published here.
Bank stocks have suffered serial underperformance during the market recovery. And, come to think of it, they also fell a lot harder during the crash. That said, both stats make it impossible to recommend buying the sector or most of its constituents right now. And with fresh selling pressure striking on Tuesday, banks may be an area worth bailing on altogether.
A quick survey of the Financial Sector SPDR (NYSEARCA:XLF) reveals a chart that never quite reclaimed the high ground after March’s massacre. Almost every other sector was able to rally back above their respective 50-day moving averages. But not XLF!
Despite multiple attempts to breach this critical level, financials were rejected every time. And now, with Tuesday’s 2.65% slide, XLF and the broad swath of banks that call it home, are a banana peel away from tumbling through the floor. It’s a stumble that will spell the death knell for its fledgling uptrend.
Overall, while there are many bank stocks worth abandoning or deploying bearish trades on, these are three of the most vulnerable…
Editor's Note: Click here to keep reading.
65 Unique Ways ANYONE Can Make Extra Cash (Without Getting a Second Job)
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…extra cash that you can collect ON TOP of your Social Security check…
…without messing around with crappy jobs. (Pizza delivery driver? No way.)
These are PROVEN cash-gushing strategies… the kind typically used by the wealthy elite.
And the best part…
Neil George has set aside copies of his book, Income for Life, and he’s willing to send you a hardback version today, ABSOLUTELY FREE (just pay shipping).
(Just 517 copies left, so click here to claim yours before it's ripped away.)
Here's just a sample of what you can find inside:
- Learn the secret of the $50,000 lump sum Social Security check. Seriously, it couldn’t be easier!
- Use what Neil calls the “F.H.A. Loophole” to get the government to pay your mortgage – PLUS receive hundreds in extra cash on top.(Page 217)
- Collect $100s for pictures in Old Family Photo Albums! Believe it or not, there is an easy way to turn your old artwork/photographs into $100 bills (certain businesses are desperate). (Page 297)
- Get paid every time your favorite song gets played on the radio! This little-known website allows you to tap into royalty payments every time your favorite song is played on the radio. Some lucky folks collect thousands of dollars a year! (Page 307)
- Pocket upwards of $197 PER HOUR simply by taking a walk through the woods in the fall… or $137 while visiting your favorite beach in the summer… and many, many more!
Needless to say, this book has become highly sought after.
So if you don't claim your free copy of Income for Life today, we'll send it to the person behind you in line…