The S&L/Thrifts sector of the market continues to make new lows.  We highlighted that the banks were weak several weeks back on this blog.  We suggested then that positive sentiment does not equate to market bottoms and the sentiment among many was that the banks were cheap and should be bought.  Meanwhile the sentiment of the moment was that energy and commodity issues were over-extended.   As the last few weeks have played out we see the banks have gone lower and the energy/commodity names higher. 

Until investors start worrying about the banks(and embracing energy/commodity issues)  instead of embracing them there will be no bottom (or top).