Tuesday, June 8, 2010

Weird Day Today

Today felt like a strange day in the market. It seemed like junk was up and quality was down - the same pattern we saw in April before the market peaked.

When thinking about when this correction will end - remember the April rally went on far longer than it should have. There were weeks of ridiculously high levels of call buying.

We really haven't seen impressive amounts of put buying in this correction.

Also, there are a fair number of strategists saying that this is just a dip that should be bought.

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