While companies after companies kept going down, the indexes keep going up. The major indexes were testing the 2+ year highs today, but look at the sampling of the following well known companies:
By the way, you can guess which one is SPY, representing the S&P 500 index. I put that one in just for the visual.
Why? That’s because with the QE2 money coming in everyday (or with any bull market in general), the money has to go some where. Given that the equity market is still the place to be, when one sector is overheated and due for correction, it corrects while the money goes to another sector(s). This is “sector rotation.” So the uranium stocks got dumped and the solar stocks jumped and then heavily sold. The ag stocks got bought, then energy stock got overheated, then the commodity went to the moon. Today the unloved financials got their turn to save the day.
So if you really need to short, short an individual stock. Don’t short the indexes, which would be one of the most foolish thing to do.