...an inability to
Glad I refinanced with WAMU before it... just kidding. Did I read that financials have been moving down at the rate of 4% plus per week since the new year? No wonder they are so tempting to hit over and over again. Amazing ranges on the financials -- they are being played heavily.
Separately, it will be interesting to see what impact, if any, the continental shelf drilling ban-lift announcement will have. (edit: Note this will require congressional approval). Also, don't forget that it's option expiry week. It often adds a bid to the market, but also typically introduces heightened volatility. The value to the far right (-1) on the chart below represents Friday's close.