Arbeter: Time to Head for the Hills?
We thought we had a selling capitulation in the financial sector two weeks ago. Guess again. Last week it was Citigroup (C). No matter who it is this week, the financial indexes and bond yields that we have been talking about are breaking the wrong way, and we think this has serious implications for the overall stock market. We see this as a good time to head for the hills for awhile and enjoy the refreshing fall weather and clear our head of all these crosscurrents. It feels like we are at a crossroad and there are signs pointing in 10 different directions. Then again, no one said predicting the future would be easy.
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