Serious under performance of the Broker/Dealer Index

Since the new lows of Feb 11, SPX rallied a bit over 12% at last week’s high.  Compare that with the US Broker Dealer Index (XBD) which has only gone up 6.7%, and remains below the low of late September.  Not exactly the picture of a broad based bull market.  (Idea noted from Doug Noland’s Credit Bubble Bulletin).

• ABOUT:
  Former member of the CME specializing in interest rate options and yield curve strategies.

  The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results.