Philly Bank Index (108.78)

In my November 23/05 Comment, I said this index had taken off like a penny stock. Since then it has shown us two more abrupt upthrusts, and now we are in a penny-stock-style downside slide. It is an uncomfortable situation for the otherwise conservative bank index. Penny stocks move quickly, so they are dangerous in corrections.

Hang onto your hats, because bank shares often lead the entire market.

I had hoped to build a readership on this blog, but the counter suggests that this has not happened. As a result I am commenting less and less frequently, so I cannot even suggest that I will write about this index if and when I see it attempting to make an effort at a bounce.

No hits, no comments, and soon no blog. It's been fun.