Generals Retreating
From Michael Kahn at Barron’s online:
The bottom line is that the generals of this rally, whether helped by the government or not, have shown signs of an about-face. While the Standard & Poor’s 500 has merely backed down from its recent highs and not broken down, this time the environment is different.
The market’s most steady performers are changing for the worse. The generals are in retreat. In order to keep going, the market must promote new leaders or the battle may be lost.
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