UK Banking stocks led the FTSE 100 today, but expect them to tank tomorrow.
I've been following these closely, and despite some impressive gains today, they've been on a downward curve of 3-4 days of falls, followed by a day or two of gains. Net trend is always downwards.
RBS, LLOY and BARC all saw strong 7%-18% gains today, but I'm expecting these to be gone over the next 48 hours.
And the Dow Jones just went bearsih, wiping out early gains. Am expecting the UK to follow suit tomorrow.
It'll be a day to sell, but keep an eye out that banks are slowly but surely bottoming out, ready for the picking.
2c.
