You know you have an exciting market. Did you see the article in the Sunday Times biz section by Mark Hulbert retailing Ford Equity's numbers that say that junk low quality stocks are grossly overvalued to quality names? Well not so much anymore as the market has been shuffling and reshuffling since October without that earlier bias towards junk. We track that relationship in realtime with the VMO PMO Beta charts above. Not much to see today or over the last few weeks. Attention has been focused on such irrelevancies as Gold and the US dollar. Maybe we'll get back to making factor bets on US stocks in January. Doesn't look like it's going to happen this month.
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