Friday, January 22, 2010

Houston: Do we have a problem?

The answer may be yes. The financials did not act well at all. Sometimes unexpected events come into the market. This time it was a President. Right or wrong, the effect was that the financial institutions and investors responded by voting "No" with the selling of stock. It may be just that the VIX was getting down too low and most are cautious after a huge run. We are not going to sell at the open because our positions are strong and not a good idea to sell on a continuation with the lemmings. Going to keep a keen eye though...The head winds are strong and even the best boats go down with the tide. Stay tuned....