With the "No Short" rule in place, the 68 stocks in the S&P 1500 Bank group went down an average of 11.56% yesterday. At the same time, 88% of the stocks in the group did less than their average 30-day volumes yesterday, while nearly 25% did less than half!
With the shorts now out of the market temporarily, it looks like volume is drying up, buyers have retreated (why buy now when we know the shorts will be back?), and only the sellers are left.
Below we highlight the 20 worst performing S&P 1500 Bank stocks yesterday.
click to enlarge