FYI: Although last week was a shortened week due to the holiday, its strength left many of us scratching our heads wondering where was the big buying? Clearly the short covering of the most volatile names that have underperformed in the past year (energy, materials, and low quality) was noticeable, but where were the new buyers with high conviction? This should show up in elevated volume across names and sectors, but I only found small examples of it.
Regards,
Ted
http://dailyalts.com/i-like-my-tea-and-my-markets-much-stronger/
