This Does Not Look Healthy
Everyone seems quite excited that the momentum stocks did not give up this week and join the cyclical stocks that are now down-and-out. I thought of this as I watched the same handful of stocks get bought Thursday morning, all while folks sold the same names that have seen a great deal of selling recently. It occurred to me we've seen this movie before. In fact, we saw it almost a year ago.
In May of last year many of the cyclical stocks were already heading down. Look at Materials Select Sector SPDR (XLB) and Market Vectors Oil Services ETF (OIH) as perfect examples....344 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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