Utilities Falling Out Of Bed

If you've been reading my blog you would know that I have been bearish on the overall market. I've also been short reits since late April and early this week I shorted financial stocks and airlines.

The real money on the short side has been in these utility stocks. These stocks have had huge moves down over the past few days and I can't believe I overlooked this group. The UTY index looks like it is headed for its 200 day moving average which comes in around the 504 area.