Thursday, May 18

Today markets are slowly recovering from yesterdays drop. The financial sector has been particularly quick to recover – it seems much of yesterdays dump was reactionary (at least that’s how it appears now).

Crude prices slid a bit, so the energy sector underperformed but recovered a bit. That sector is still down from a week ago, it lost much more yesterday than it gained today. Expect further recovery tomorrow, but expect the net change for the week to be slightly negative.

Our decision to move assets from SCHH to BX played fairly well, but BX has not yet substantially recovered from yesterday’s fall. We’re expecting that to change by Monday, there was no strong reason for the 6% fall yesterday.

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