Monday, May 23, 2011

Market Sheds Risk

Stock fearWell, fear is returning to the markets. Yes, sell in May seems to be working again. Getting the blame? Greece! But it's the same old, same old, right? We have known about this for awhile. Greece spends a lot of money that it doesn't have. That never ends up well.

Maybe that's a lesson for the US. And California. I know - nobody wants their benefits taken away. But if we don't stop it, the markets have a way of stopping it for us.

The stock market is shedding risk today. I still think we are just having a correction and it will be frustrating for a while. The comments I made in the "sell in May" Audioboo/podcast are stll what I believe. The market gave folks another chance to lighten up last week.

I remain in low beta stuff, some oil and some cash.

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