I know I am picking at straws but there has been some weakness today in the REITs and also in C, I think we've reached the point of maximum optimism for financials, REITs, and tech. Despite the extremely low equity put/call ratios, we have basically traded close to flat on the day. Usually you don't see very low equity put/call ratios when the market is just flat. I think the market could have a sell on the news tomorrow after GOOG and BAC announces. The Street is leaning too bullishly going into these reports.
There was also extreme weakness in US Steel & the rest of the steel industry.
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