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Comments

Warren Pollock

When you look at many funds you will find they buy across sectors. Thus, we have broad rallies and sell offs as funds move into securities to models. The latest rally was fund buying as a follow on to short-covering.

We can argue about targets met against lowered expectations as a bullish indicator. However, there are no fundamental bargains when you look at forward PE's.

If you are going to buy a stock on momentum, or on a chart, you might as well buy the banks. At least then you are buying Beta.

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