Folks, the DOW financials are quickly running out of time…
Here are another couple of great posts from expert analyst Ira Artman.
Ira points out that not only have the DOW financials (AMEX, BofA, Citigroup and JPMorgan) been on course for an April 10th touchdown of ZERO (essentially a complete wipeout of common stock value) they have, as of last Friday as an aggregate average, dropped below $10 for the first time.
Further, two of the DOWs four financials (I think you can guess them by now) have common stock prices that are well below $10 threshold which should trigger them to be de-listed based on the DJIAs “unwritten” rule for the price weighted average.
These are truly the days of our lives… Look out below!