I was not expecting to talk about the JunkDEX for the third day in a row, but since I have received several requests, I will run with this theme for another day.
Today the JunkDEX is showing an acceleration of yesterday’s 7.2% move downward. As of 11:30 ET, the JunkDEX is down a little more than 11%, with American International Group (AIG), Fannie Mae (FNM) and CIT Group (CIT) all down about 15% each.
Based on the large trading volumes, Sunday’s call of an impending blow-off top is looking as if it may be coming to fruition.
For some related posts on junk financials and the JunkDEX, try:
[Disclosure: short AIG at time of writing]