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$45.90 -3.85 (-7.74%)
10/7/2008 4:03 PM

SunTrust Banks, Inc. (STI)

CAPS Rating:
*

A commercial banking organizations and a diversified financial services holding company whose businesses provide a range of financial services to consumer and corporate customers.

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Avatar EnochRoot (99.86) Submitted: 3/10/08 1:44 PM : Outperform Start Price: $53.14 STI Score: 21.07

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 four other times in its history - 10/7/98, 7/23/02, 10/7/02, and 1/6/08. All were within a day of a major low and a month later the index was higher by +33%, +25%, 28% and 11%, respectively.

Not my usual MO, but 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.

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