Will the "tax talk" take the bull out of the market?
I think the problems in the Bear Stearns hedge fund and interest rate jitters accounted for about 80% of today's decline. I'll give you 20% for the worries about the tax changes being talked about, although I don't expect anything to happen on that front. We're also getting into silly season when some big players start setting up their positions so they can take vacations.
Looks like people are taking "sell in May and stay away" pretty seriously this year.#29
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