Tuesday, December 30, 2008

Checking out C and the banks

Citi continues to worry me - although I recognize it's not the only bank. It's just one big, representative bank... representative in many ways of what's worrisome about the entire banking industry.

I don't like the idea of another leg down in the banking industry. But I just don't see that this possibility can be ruled out.

Looking at the banking index ($BKX, in the charts below), it's just the hourly chart that looks like it's trying to wake up again. That enthusiasm is not showing up on the daily and weekly charts:



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