MV Hunting Report: Bears Declare Open Season on Bulls

{ Posted on May 01 2009 by Minyanville }
Well it looks like we're going to have to wait until Thursday to see the results of the stress tests; the Federal Reserve and Treasury said they would be held pending challenges from Bank of America (BAC) and Citigroup (C). The overall market didn’t really respond to this; the banks were down but we still saw strength in other sectors namely commodities. It was a wide spread rally from Transocean (RIG) to Potash (POT) to Freeport McMoran (FCX) - even the hated Dryships (DRYS) had a nice day. As for the S&P 500 today’s action resembled the rest of ...

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