Not sure where you were going with the post but in a way the spectacular rise may be my point . One last burst before they all flameout.
Another reason to be concerned is Blackrock via its iShares has just played with the weighting of one of its EFT ( Very big one forget the code) so its heavy on the Banks..
I can only speak for what I have observe in Oz ETFs but If a company gets added to an EFT they go on a run to the moon and slowly fall back to earth.
There is also the what would I do if I owned an EFT and also served large clients . I would ring them up and say time to ditch the banks dudes. They would say we own Billions how are we going to get rid of them without affecting the market. I say , its all cool man ,we own an ETF we can quietly sell them through that, First we start with a lot of sprooking their virtue to get a run going , then off load them into the ETF. Now if we are headed on the path that Japan has taken and the EU has begun and the economy is not going to bounce out of bed , WBC and friends are in trouble.
WBC Price at posting:
$26.09 Sentiment: None Disclosure: Not Held
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