In market action dow was down 52 points to 8422.The current advance took the Industrials to 8574.65 on May 8.It also took the Transports to 3351.17 on the same day. Next, we witnessed a four-day decline.I would like to quote the phrase of one of legends of market,"Follow the money." For that's all markets are -- movements of money. Follow the markets (the money), and you'll know what to expect, where to live and where to put your assets. The basis of the uncanny wisdom of the markets rests on one concept - "Everybody knows more than any one man or any group of men."
Hamilton's famous rule -- "One of the shortest ways of going wrong is to accept an indication by one average which has not been clearly confirmed by the other."
I have found the stock market to be a relentless teacher. The market will zero in on your weaknesses and it will cost you. If you are fearful, the market will find your weakness and it will cost you, if you are overly bold, if you are lazy, if you are impatient, the market will find that weakness and it will cost you. The market is a brutal teacher, but an excellent one.
My investment in Citi is up by 37 %, this return is not bad, considering it only less than 3 months. Moving forward, rally looks tired, as many great investors has said sell in may and buy in oct.
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