Obama, The Market & The Banks.

President Obama went after the banking sector on Thursday. The market obviously didn't like what it heard. This was not the only reason stocks sold off-tightening of money in China and a so far lack-luster start to earnings season-contributed also to the decline. We've shown you here: Two in One Week and here: A different look. our concerns for the market's behavior. President Obama certainly didn't help matters much.

*Long ETFs related to the S&P 500 in client accounts. Long certain banking stocks {although none of them are mentioned in this article} in certain client and personal accounts. Long ETFs related to the banking sector in client and personal accounts.