Momos in retreat.

Nervous in OPEN and GMCR before earnings. Notice too how the DOW hugs the flat line as individual components swing about. So far, the financials, IBM, INTC are holding up while the oils and PFE are faltering. If you think only macro matters, the former group should not be so strong. But it is not just about macro, it is also about managing portfolio exposures. Recall those relative performance options we talked about in class.

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