Day Summary

Markets were oversold last week and they got the bounce today, I had bought XLY anf XLF on thursday friday which most probably I will sell tomorrow. Even todays big rally is missing on volume and is a cause of concern so a close monitoring of the positions is a good idea. Crude retreated today after huge run last week, this parabolic move in crude makes me nervous and we might soon get a blow off top in crude, which may be good for equities and may address inflation concern, but for now crude is up up and away. Gold is really trying to hold well here and we may be basing in gold. Tech and Transport is leading the markets which is a healthy sign but lack of volume is a thorn in the eye. EWC (Etf for candian stocks) which I bought last week continues to perform well and its clearly out performing US markets. I think EWC could be a good long term play. Also watching EWZ (Brazilian etf) which has hit a new high in midst of all these bearishness worldwide any pull back on it could be a good entry.