XLF At The Highs Of The Day (XLF)

The Financial Select Sector SPDR ETF XLF is at the highs of the day, and this could be an indication that financials are rallying and that the selloff we're seeing today, may be in fact a one off event. Bank of America BAC and Goldman Sachs GS both reported better than expected numbers this morning before the bell, to go along with Citigroup's C earnings results from yesterday. In addition, the foreclosure mess appears to be mitigating, as Bank of America and Ally Financial have begun restarting foreclosure processes, as the companies found no wrongdoing in their procedures. Perhaps it is time to give the financial sector a look here. Disclousre: Long C