In an election year, there is a lot of talk about flip flops. If you want to see some real reversals, take a look at the markets. Energy, which is the leading sector over the past six months, is now the worst performing sector while Financials have moved from the cellar to the penthouse in the same period.
Financials, which are down 22.5% over the past six months, are now up 11.5% for the month led by
- Ambak up 84% MTD
- MBIA up 47% MTD
- Fifth Third Bancorp up 44% MTD
- First Horizon up 43% MTD
- Bank of America up 40% MTD
With oil down over $20 in the past week, Energy, on the other hand, is down nearly 15% for the month while being the only sector up for the past six months. Leading Energy on the decline are
- Consol Energy down 30% MTD
- XTO Energy down 30% MTD
- Peabody Energy down 29% MTD
- Chesapeake Energy down 29% MTD
- Weatherford International down 27% MTD
