Wednesday, January 28, 2009
Financial stocks had a good day. Many of the big banks have advanced over 5% today - a welcome relief echoing the jump in financials south of the border. Still, this is a sector investors should stand clear. One exception may be the exchange stocks, though. TSX Group (TSX:X) was one of the few financials stocks that fizzled today. The company announced improved profits in its Q4 performance - something the market clearly has already discounted. The stock fell 2% to close at $31.36. But X is Stock Trends Weak Bearish with a good chance to build upon the relative price performance of recent weeks. Today's poor showing in a positive day for financials should be seen as more opportunity than warning. South of the border both the NYSE Euronext (NYSE:NYX) and the CME Group (NASDAQ:CME) logged healthy gains today.