A lack of leadership.  That’s what’s happening in the market, which seems to be moving pass the latest example of Wall Street greed and the potential systemic risk regulators refuse to tackle. 

The gyrations in the market are more a mark of frustration than fear, but each leg lower shakes out more holders, which adds to the downside pressure.

Please take care not to close stocks you will regret.  Consider how much you would like to own the business.

Meanwhile, Industrials are leading the way led by airline stocks.  Those names also lifting the Dow Jones Transportation Index into the stratosphere.

Despite warnings from the head of the CDC, and President Biden, it’s clear investors are refocusing on the so-called reopening trade. I think most of these names are over bought, but they are seen through the lens of value; hence, the chasing.

DJT

This is not convincing selling. I would not be surprised to see buyers materialize, especially ahead of tomorrow’s infrastructure announcements.

You need exposure to steel, construction equipment, and housing (look for a call to remove limits on mortgage deductions).