15 October 2009
The Highs and Lows Today
Yesterday's rally took our high risk names much higher than the safe stock portfolio. A spread of 150bps on 50 long 50 short baskets. Today's reversal in the markets took us back in other direction by +50bps. Not a strong trend yet either way. I still think we will move to a regular market (normative state) soon. Here's a new chart I made this aim showing how the lows and highs compare this AM. Lots more spread among the lows.