S&P 500 FINANCIALS INDEX
The MLP index fell a fraction in the 362s & the REIT index lost 2 to 221. Junk bond funds lost ground in today's sell-of. Oil was down pennies & gold managed to sneak up 4 to 1403 as its rally stalled.
Alerian MLP Index --- 3 months
Dow Jones REIT Index --- 3 months
Bank stocks also contributed to today's decline but the Financial Index has had a nice rally since Labor Day with a 13% rally. Citi (C) has benefited. Even though the gov is selling off its massive stake in Citi, the stock has climbed 10% in 3 months. Bigger picture, the index remains stock in its sideways rut which has lasted more than 6 months. MLPs have topped out at record levels, they need time to rest. Tomorrow should bring announcements from Asia on the G-20 meeting & all indications are that disagreement is the one word that summarizes this meeting. Much of the disagreement come from the QE2 Treasury buy back by the Federal Reserve which is not being well received around the world since it promotes a weaker dollar.
Dow Jones Industrials --- 3 months
**Gold Super Cycle**
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