Bow-Wow Situations

Does anyone else find it ironic that the week after Barron's article about how the little guy investor has been missing the rally boat that the market tanks? You've got to love that if you're a little guy and haven't been long and leveraged to the gills over the past couple of quarters. As they say, every dog has its day, I suppose.

Speaking of dogs, two bow-wow situations of major proportions can be seen in both the financials and homebuilders. I guess all of that "subprime is non-sense" and "what housing bubble?" is starting to come home to roost. Perceptions in the market can change like the weather in Minnesota (often and without notice).

A good test of how "contrarian" you are is whether you think the financials and homebuilders are "bet the farm" kind of buy today: