I started out the day reiterating to traders that there was virtually nothing that was known last October that isn’t known now. The fundamentals surrounding the U.S. and Europe have not changed in any significant way. Looking at the markets in Europe today – with many markets higher – does not support the weakness in the euro but it does remind us: Don’t pick bottoms. The Dow – before going into lunch was up 156 points – and has since shaved half of that rally. The Dow has had four previous up days throughout May so the “sell May and go away” theme seems justified. But last week’s volatility has the bulls’ looking ... (full story)