There is a divergence between the SP 500 and the tech sector. There is also a strong indication that the US economy is sluggish, not only in terms of GDP, but also in median wage and consumer spending.
RIMM lowered guidance after the bell, and P&G lowered expectations.
I shifted quite a bit of risk off the table this morning, and went into the close with new short positions on US broad equities, to offset some longs and bring my portfolio to a more neutral to bearish stance. I will probably lose the short positions if the techs can rally tomorrow and hold it into the weekend.
