Over the weekend I hope to update this blog’s template to make it organized a little more efficiently. I’m not a web designer, and don’t hire one, so every once in a while the site gets unappealing in my eyes and I try to refresh it a bit. I’m just letting you know so if you visit here over the weekend and things are screwy, you’ll know why and that it will be fixed shortly. And please give suggestions if you think improvements to the layout can be made.
On an unrelated anecdotal evidence tangent, I got a call today from a client who requested I slash their financial services exposure by 50% (it had been a market-weight allocation — 18%). This type of anecdotal evidence often serves as a contrarian indicator, so I am interested to see if financials bottom out here in coming weeks and months. I got the call at 2:43pm central time, when the Financial Select Sector SPDR (XLF) was trading around $26.70 so we can track this random indicator. Maybe it signals capitulation, maybe not, but it’s always amazing to see how many times capitulation indicates that a bottom is near, even in something as random as this situation.
Have a good weekend!