Like many other investors, I have been enjoying the recent run-up in equity markets but have worried that it has been a bit overdone. It seems that every piece of news, good or bad, resulted in the market advancing. This is something that can't go on forever.
QLD was sold at $90.28 for a 2.7% gain over the course of under three weeks.
QID was bought at $48.39 and ended the day at $48.53 for a 0.4% gain.
If the mood of the market is going to change now that the enthusiasm of earnings season is over, bad news will be interpreted as bad news, not ignored. For a list of all the things wrong with the market these days, check out this post by Doug Kass.