I have been a little bit out of touch on this blog over the last few weeks, but the market had a big day on May 22 when it shot out to a new high on an intraday basis and then closed below the low of the previous three days. The market has since corrected 2.8% off of that close but has pushed higher the last few days, although still short of the May 22 close. Today the market started with a gap higher, traded in a tight range, and closed at the same price as yesterday (on the SPY).

The Japanese market, and many international markets have been hit hard over this time period, and today, John Mauldin of Mauldin economics talked about why they Yen will decline over the long term.

Fixed income markets, and dividend payers have also been hit over the last few weeks. We have reduced some exposure in this area and moved around some of our MReit investments to better take advantage of the shifting markets.