Brokers Go Down Hard, and to the Right

Originally published in Charting the Market 8/01/07

The subprime cockroaches started to show themselves months ago, but the selloff in brokerage stocks really picked up steam in July. Not a good month for the big boys, and surprisingly Bear’s stock did not lead the way down. The risks were a little slow to get priced in, and lot of folks got caught flat footed here. Financials were Cramer’s favorite sector in January but now he says sell, which, of course, means the bottom might finally be at hand.

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