Who's Afraid of Credit Tightening?

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Nothing really remarkable about the SP500 action today. Higher high, higher low, bounce off the trendline, low volume. Nothing wrong.
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The financials had a decent day today, although with how much conviction. Here's Goldman Sachs. The old saw about financials was 3-6-3 (borrow at 3%, lend at 6%, be on the golf course by 3 PM). Of course, as Barry Ritholtz muses, without leverage, how can the banks and brokers expect high multiples? GS comes off the "gap and crap on high volume, drifts down, and stabilizes on light volume. You can always choose the Hank Paulson plan: Get outta Dodge.
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Conviction buying? Here's XLF (Financial SPDR ETF) leading the pack, on anemic volume. Actually it was pretty anemic across the board. The credit crisis is over only in the weak-minded, who believe the fabrications.
_________________________________________________________Ice in your veins? Intercontinental Exchange (ICE). Recent low at 80. The square root is about 9. So the the Gann Squares would be +/- 9 (give or take) meaning 89 or 71 as targets coming up. Back of the envelope stuff.
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CME Group...blastoff! CME is poised to move, somewhere. Recent low 282...square root would be about 17...meaning 299, 316, 333, 349ish as points to watch. Fun. Not my game here.
_______________________________________NR7s (volatility expansion setups) from high priced trade candidates.
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Good trading and great risk management to all.

Educational use only. Never intended as investment advice.