Well, last two weeks sucked, but HD and WMT this week are treating me much better. Bit by bit, the Bulls are realizing that a recession is coming. (If we are lucky, that's all we will get; if the FED and US Govt try to make things better, we will feel their pain!).
During the Great Bull, rotation pushed sector after sector higher. Now, rotation consists of taking a few sectors at a time and smashing them. The herd is trying to squeeze into the few remaining "quality" stocks.
Re: new lows and highs, I look forward to Saturday's Barrons to see who, besides utility stocks, is still setting highs. We are going downtown.
Mike |
