We remain overweight in industrials, materials, energy and financials.
An accelerating economy could replace QE3 paranoia, giving the market a more valid reason to continue rising.
And we have our eyes on three more positions that we're restricted in.
We do not yet know if this is a one- or two-day event or the start of a correction that eventually tests 1500 on the S&P.
We view this announcement of the replacement for its retiring executive as a positive and we remain bullish on the shares.
The drop in the Nikkei is an opportunity.
The market is so overextended technically that I do not recommend buying this dip except as a daytrade.
The company renews its commitment to return cash to shareholders.
Well buy this industrial on a pullback and build our position in a healthcare stock.
Every step up carries additional risk, given the extremely overbought technical conditions and one-sided tape.