So, it seems that the tax-selling theory doesn't hold true... Until it does... I am still in the camp that the market is way too overbought and am expecting a sector rotation soon, i.e., money out of XLY, XRT and move into new sectors... refiners and energy plays could be the next place where money may move throughout the summer... Today's action could be a wash-out move unless $SPX closes above 1181... Else, this could be a move to shake out all the weak hands... I have a hedged poftfolio right now.. i.e., short XRT, HD and long CHK... MON looks interesting but am gonna sit on the sidelines until MON releases its earnings next week...
Pankaj
Other considerations -
Breakouts - NFLX CREE LVS WYNN WFR ERTS FWLT CAT CMI JOYG BUCY
Long Side -KLAC ABT NTAP GPRE JRCC CNX AMSC NTRI FSYS MED SUN TSO CVX ESLR FLR SOlar stocks ( TSL SOLF CSIQ YGE) ARD FLIR GMXR SD IRE IO GTI FTK
Short Side - PEP DRI TEVA FDX CMG CMI BUCY CEPH CLF WLT BIDU GYMB (Careful with WLT, BUCY et al. - very high beta)
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