Monday, June 2, 2008

06.02.08 - Sell in May?


Banks and financials are facing an industry wide downgrade today. After a month of divergences, they are bringing everyone down. Cumulative Tick is very negative, although we seem to be "resting" at the 50-day moving average and we've just seen a massive supportive volume spike.

Interestingly, the fund has been indicated to move out of the bond safety trade, so we are nibbling, but nervous about it. As an aside, Google's Blogger is seriously overloaded today.

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