Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Rare as a dodo in 2013 are any form of long losing streaks; recall how long we entire early part of the year without so much as 3 down days in the DJIA. Yesterday’s reversal late in the day pushed stocks into the red again and we now have the first 5 day losing streak of the year. After being extremely overbought last Wednesday after the Fed surprise announcement the indexes have now worked off that condition. As you can see in the chart below the S&P has now retraced 38.2% of the September rally.
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Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/index.php/the-fund/holdings
