A downgrade of the financial sector by Citigroup took the indices off their highs, but it was still another day of gains for the bulls. Breadth was solid, with regional banks, oil and coal leading the way while biotechnology, gold and steel struggled. I could go on at length about how remarkable this run-up since early February has been, but I think everyone is very aware of that. The more important issue is, how do we deal with a market that acts like this one? Obviously, trying to call a top has not worked, but how much longer can we expect this market to run up without at least one or two days of profit-taking? The AAPL sell-off was frustrating too.....
long AAPL
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