Flight Away From Quality
Yesterday saw a quality stocks dive.
My take is that many stocks,including quite a few of ours, have had an impressive run. Many funds cashed out of these stocks precisely because they can lock in some good returns.
Again, this goes back to my main contention that we won't go consistently Bullish until the credit crunch on the funds' part is resolved.
My take is that many stocks,including quite a few of ours, have had an impressive run. Many funds cashed out of these stocks precisely because they can lock in some good returns.
Again, this goes back to my main contention that we won't go consistently Bullish until the credit crunch on the funds' part is resolved.
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