What Mellons!

It's interesting to me that financials aren't exactly setting the world on fire lately. One in particular, symbol BK (Bank of New York - Mellon) has been amazingly lame during most of the huge run-up this year.

Sure, it had a pop back in the Spring, but that was a million years ago. In this environment, where everything seems to be exploding higher, for a stock to look like this is pretty telling. I would also point out that it's been down today, when the Dow was as much as 150 points higher.

I entered a short position on BAC last week, but I've also entered a short trade on BK today. My stop is pretty tight - $28.14