Oil up, Financials down, and Retail down.
Bad news out of AIG, lead some to believe that this could be the end of the bear market rally that
the market has been enjoying since March 18th. We do not think this is the case. While oil strangles the US economy, we think oil and financials will bring us back down toward 12700-12100.
Citi is looking forward to many changes under Pandit.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWst.LBIN368&refer=home
After that, we might see 13500 on the DOW again.
Watch the SKF and the XRT today, not to mention the USO.
Good Fortune from Trade Equity!!!
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