Good point Joe. That's been the modus operandi all month for the market which is probably some distribution. Maybe Zeev is right and there is a laborious climb from here. However, I did think this could be a +100 day for the Dow and that's not looking good right now. However, I'll take 20 points on the NAS anyday if that's where we finish.
The M&A activity this morning didn't hurt either.
I've always thought the homebuilders were overbought, just haven't had the cajones to short them.
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