04/29/2014 Extreme Bearishness

	Large Value	Small Value	Mid Value	Small Growth	Mid Blend	Small Blend	Large Blend	Large Growth	Mid Growth
Utilities	1	3	4	7	18	36	48	55	73
Finance	2	6	8	11	20	40	50	57	74
Materials	5	10	12	14	23	43	52	58	75
Staples	9	13	15	16	25	45	54	59	76
Technology	17	19	21	22	39	51	62	65	77
Healthcare	24	26	27	28	46	56	64	68	78
Industrial	29	31	32	34	47	60	66	70	79
Cyclicals	30	33	35	37	49	61	67	71	80
Energy	38	41	42	44	53	63	69	72	81

Utilities, Large caps, Value stocks -- all have one thing in common: they aren't supposed to move as much as the market.

You only invest in sluggish stocks when you are afraid the market will turn in the wrong direction.

I have macros running tonight.  I may have a new trade in the morning.