Strange day Friday

The market was very strong Friday. The Dow was up .63%. The S&P rose sharply, up .72%.

You would expect JNK also to be strong and LQD weak. Instead the opposite happened. JNK was down and LQD up.

What does it mean? It means the bond market did not believe the strength of the market. The bond market could very well be right. Time will tell, of course.

George Dagnino, PhD Editor,
The Peter Dag Portfolio.
Since 1977
2009 Market Timer of the Year by Timer Digest
Portfolio manager

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