Here's this month's Best and Worst Industry performance. As you can see, some of the best performances happened to be by those who managed to finish just a little bit in the red. In the past, I've noticed that when that occurs, market reversals are right around the corner. So perhaps we see a bit of a pop from the markets in the next few days. A run up to 1130 or 1140 would be well-received for me to begin shorting again.
Another observation worth making - Music & Video Stores, for the second straight month finish at the top of the list - last month they were up almost up 38% - definitely worth checking out. I'm going to do some investigating myself.
The fact that Tobacco is the worst performing industry, really surprised me. People tend to flock to stocks like Phillip Morris (PM) during hard times.
On another note...I made two trades today - both of them were shorts in SPDRs S&P 500 (SPY). The first trade I cut short as the trade went against me, the second one though was profitable and I got a nice run out of it, allowing me to finish in the green, and in the process get June started off on the right foot.