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Someone said to me once that to be short is to cheer bad
That might be so but then bulls
seem to be cheering a lot of bad news lately as well.
Each time major firms announce layoffs of thousands
of employees [UBS and C for example] bulls cheer and buy those stocks, driving
So I’d say it’s an even
Until the Fed decides what it's going to do, markets will stay
Clearly, there was a leak indicating perhaps no interest rate cut or a
cut and pause.
The reaction was a hit to
commodity prices and a bump in the dollar.
The Fed must have noticed the reaction and would like nothing better
than to have that impact.
interest rates are very low.
I may or may not post tomorrow. Have a pleasant day.
Digest maintains a position in IYR, XLB, XLE and MOO.