M&T Bank Corp (MTB)

EnochRoot (99.87) Submitted: 6/09/08 3:20 PM : Start Price: $79.13 MTB Score: 8.97

Third time around at this, man these financials are a tough bunch.

The decline been so bad in the bank group that the BKX Index is now 24% under its 200-day moving average.

That's an extraordinarily large spread that has been seen only five other times in its history - 10/7/98, 7/23/02, 10/7/02, 1/6/08, and 3/10/08. All were within a day of a major low and a month later the index was higher by +33%, +25%, 28%, 11%, and 7% respectively.

I am using CAPS to track the BKX constituents over the next month, to see if this historical technical pattern will hold even in this crappy credit environment.

Report this Post Replies: 0 | Reply