Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
We are seeing a pretty astonishing selloff in the “conservative” utilities space – the ETF for the group is down some 7% already this month. The relative strength index is down to mid 20s. All of 2012’s gains (and more) have been reversed. It would appear that the fears of a more normalized dividend tax rate as part of 2013’s budget would be the culprit here…
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