It is almost 10 years to the day when the SEC placed a temporary ban on the short selling of financial stocks. It was a Friday. It was 'Quadruple Witching' day. Monthly options expiration (there were no weekly options back then) ... And the writing was on the all for the financial sector.
Another new record high was achieved yesterday for the market, of course what followed was a fairly dramatic decline in the technology sector, with some of the biggest names taking the biggest tumbles. Perhaps technology took a peak at the 'upside down'.... a strange world where the price of equities trend lower, not higher. Yet like the other nasty tech sell-offs we have seen this year, the buyers resurface the next trading session and record high prices return.