Two weeks ago, biotech was really strong, last week not so much. Last week Transports was strong, maybe this week it won’t be as much. But I will tell you that certain stocks that recently were on the cusp of breaking out, didn’t.
The soybean market had been the slowest to break, but it began to catch up in August, losing more than 5% of its value. We still feel that soybeans are carrying a considerable risk premium and that they are the market with the greatest downside potential.