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- Pitting Wall Street vs Auto Makers: Is It Fair?
- Europe Banks in Huge Rate Cuts; U.S. Earnings Glum
- Winner Today? Home Builder Stocks
- Exxon's Amazing Stat: Market Cap Of $400 Billion
- So, One Government Rescue Program Working?
- A Bottom Or Not? Pick Your Analyst
- There's No Sign Of A Bottom Yet
- Traders "Betting" Big 3 Get Bailout Money
- "Volatility Trade" Biggest Factor In Sell-Off?
- Cramer to Geithner: Let FDIC Chair Keep Her Job
- Lightning Round: Boeing, Medtronic, Agrium and More
- Lightning Round OT: Continental, Amylin Pharma and More
- Sell Block: Cramer's Solution for Mortgage-Backed Paper Mess
- Toll Brothers CEO's Housing Outlook
- Making Money Off M&A
- Your First Move For Friday December 5th
- Web Extra: Fast & Furious Trades For Friday
- Bear Market Boot Camp, Pt. 2
- Boeing Mulls Pushing Back Dreamliner Deliveries
- Chief Executive Quits Australian Publisher Fairfax
- Asian Markets Wobble on Gloomy Economic Outlook
- Honda Plans to Pull Out of Formula One
- Job Cuts Picking Up Steam Just in Time for Holidays
- Pros Say: Bear Market Rallies = New Reality
- CEOs Sound Off: Budget Deficit, Bailouts & More
- Bernanke: 'More Needs To Be Done' on Foreclosures
- Bernanke's Speech on Housing and Foreclosures

We are ending the quarter the way we lived most of it, with energy stronger and financials weaker. However, this is one of the strangest quarters in my nearly 12 years at the NYSE. Look at this strange spread between the major indices this quarter:
Dow down 7.1%
S&P 500: down 2.9%
NASDAQ up 1.2%
russell up 1.0 %
Midcap up 5.6%
Two points about this data:
1) It's the first time the Dow is down 3 quarters in a row since 1977-78.
2) The point spread between the Dow and the S&P: is the widest since Q4 2000. Why? First, many smaller cap stocks (some of which are in the S&P) did better than the larger cap stocks that are in the Dow; more importantly, financial stocks just got killed in the Dow.
Dow financials this quarter:
AIG [AIG
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]down 39%
BofA [BAC
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]down 37%
Citi [C
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]down 22%
JP Morgan [JPM
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] down 20%
Little wonder that financials are among the big sector losers this quarter:
Housing down 25%
Banks down 26%
Airlines down 40%
While the sector gainers are the usual suspects...energy:
Sector gainers Q2
Oil services up 26%
Natural gas up 24%
Oil stocks up 15%
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