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So financial reform passed and financial sector jumps 2.77% on the news!

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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 10:31 AM
Original message
So financial reform passed and financial sector jumps 2.77% on the news!
Edited on Fri May-21-10 10:39 AM by Statistical
Those banks sure do look scared.

Market is up ~1% today but the financial are gaining almost 3x the rate of the broader market.

http://www.google.com/finance?q=NYSE%3AXLF

XLF is an ETF which is a composite of the financial portion of S&P 500.
Has everyone's favorite friends Goldman Sachs, Citibank, Bank of America, etc.

Our Congress sure showed them good!

On edit: XLF is up over 3% now.
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DURHAM D Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 10:34 AM
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1. Yep - just like Health Care Reform. nt
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joeybee12 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 10:37 AM
Response to Reply #1
5. Beat me to it...n/t
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Nite Owl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 10:35 AM
Response to Original message
2. The open today was ugly
but the banks never went down, they were green from the opening bell. They are indeed very happy with the (no) reform bill.
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redqueen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 10:36 AM
Response to Original message
3. Rec'd
Edited on Fri May-21-10 10:36 AM by redqueen
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stillwaiting Donating Member (591 posts) Send PM | Profile | Ignore Fri May-21-10 10:36 AM
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4. Any real threat just might be over it seems. nt
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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-21-10 01:43 PM
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6. Even with overall rally fading the XLF is still up 2.4%.
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