The financial sector is still taking a beating despite today's rally. The bullish percent chart, from Stockcharts.com, tells the whole story. One stock I found interesting while scanning the sector was NFI, Novastar Financial, which is down from $70 to $12 in under six months. That is really scary. It makes me wonder if small mortgage finance companies like this are just used by the big boys to dump bad debt? Whish I had a naked put on this baby back in March.
Jul 30, 2007
Financial Sector Continues to Suffer
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