Today's action was another pop and drop experience. The markets are really having a hard time putting in 2 consecutive up days and although morning buying has attracted some interest, the afternoon has been bear territory. XIV continues its slide in a one step forward, 2 steps back pattern and M3 is still in cash per the free access M3 site. These updates are published at 12:45 PM pst, just prior to market close since the model returns are based on positions established end of the current day.
XLU's prospects improved considerably today and WAG, which suffered an almost 10% hit yesterday made a nice rally after an early morning stall. GE closed in the green....encouraging the bulls.