Heavy Fire From Profit Taking...

Stocks came under heavy fire from profit taking today as investors who profited from the commodities and mining rally so far took those profits off the table for the coming long weekend. Commodities and mining stocks took a huge hit today, including the extremely bullish.... GOLD. What does this all mean? Since commodities are losing favor and short term bond yields are yielding close to nothing, we should see hot money moving into stocks very soon! Sectors which have underperformed during this crisis so far without very strong reasons, such as healthcare, should take center stage next. Financials are a little shaky but is also coiled and poised for a rebound in the near future. I maintain my views of yesterday.