Market volatility caused by the end of the quarter and profit taking before earnings kick off. We might as well write off this week as being meaningful anyway because the big players are all kicking it on the Gold Coast this week for the Holiday and won't be trading. Hedge Funds and Mutual Funds are like us when it comes it housework. They save it until the last minute. Some things they need to do to make a portfolio look a little more presentable are, clear out the dead wood, beef up a winning position, sell and take profits, or unload buku shares of a loser amongst other things. That kind of thing coupled with a Fed decision can cause market queasiness.
The cat's out of the bag with the subprime. It's ancient history. I don't see enough positive talk about the breakout moves last week in the Tech and Semi sectors. They are often the leader in big market moves.
Goldilocks and Bullitt can't be concerned with the rising energy prices, Bear Sterns Hedge Funds, China, or people who are in over their heads in a mortgage. When the gates open after this short term consolidation, the stampede that follows positive earnings will crush any fruitless thoughts of a slowing economy.
Bookmarks