The underlying market right now, IMO, looks like sh&t.
Now, I do not know if this is just because the weaklings and some other money managers are pulling the "sell in May" nonsense, early on, and are starting to unload some of the beta names, or what.
As I have said, I think the market ramps big going into the end of QE2 because the momentum money managers are going to want to squeeze all their alpha out in the first half, and really get as much out of QE2 liquidity as possible, as the second hard of the year is more up in the air.
Who knows. Algos and low liquidity in some names make this market a free for all jerk fest.
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