Despite the strong jobs report, the market is lower.
Hedge funds appear to be dumping hard — as Dave Lutz of Stifel, Nicolaus notes, there's heavy selling among the "most shorted stocks."
So why the dumping?
Some chatter from Lutz:
- Maybe some disappointment in the ability of the market to absorb new workers.
- Obama retaking the lead.
- Fears that it won't be long before the Fed removes the punchbowl.
- Iran fears.
Anyway, nothing's real compelling, but that's what people are talking about.
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