The KRE Regional bank ETF continues to slump down over 12% on the week. The KRE ETF (SPDR S&P Regional Banking ETF) is an exchange-traded fund that seeks to track the performance of the S&P Regional Banks Select Industry Index. The index comprises publicly traded regional banks and thrifts, which are small- to mid-sized banks that primarily focus on local and regional customers.
ETF Newz Says:
The ETF is totally oversold, but with the Fed Raising rates and massive shorts in many of these stocks there is no safe entry point here.
