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Toddo on TV: Fun With Fundamentals


Markets, movers and more.

Uh oh, Toddo's feeling substantive. Time to talk fundamentals, in particular the tight correlation between the KBW Bank (BKX) and S&P Indexes. It's imperative that the banks hold, or the market will cascade lower. The energy sector's weighting, now 15.2%, moved ahead of the financial sector, now 14.95%, in the S&P 500 yesterday.

While we don't do victory laps in the 'Ville, considering the massive, widespread pushback when he first opined in 2003 that this would happen, the founding Minyan sees fit to rotate around in his chair and smile quietly to himself. Oh, and just by the by, there are 37 energy names in the S&P 500 and 90 financial names.

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No positions in stocks mentioned.

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