Bernake testified before congress and downplayed the role of the subprime market. Go figure. The market continues to hang in even though the news is downright awful. The housing situation is awful and iran capturing british soldiers isnt helping matters.
The only thing that I can think of holding up the market is the fact that everyone is already short? Maybe? I can't recall a time in the last year where things are stacking up so negatively. Perhaps the weak dollar is holding up commodities, but the curve is steepening.
IPSU has traded up. I'm still a believer in soft ags. They aren't over owned and haven't really gained traction in at least a decade.
No comments:
Post a Comment