DJIM #13 2010

We entered Friday’s trade wondering if the Bears could muster some follow through by pressing positions on a jittery market…simply, once again, they failed to take advantage.

Now, the attention turns to what we’ve been alluding to since mid month and that is more performance chasing in the days ahead of Q end.   The reason is simple, MF managers are below the benchmark SP this Q.  The numbers of the big players below indicate they are likely not finished as they trail a 4.7% SP return by a wide margin.

Templeton 2.67%, Blackrock 2.91% have the largest assets under management and familiar names like GS 3.5%, JPM 2.94 are some examples of a group that is averaging a 3.55% Q return.

The market might feel stretched and a little jittery, but it should overcome ahead of what will be a NFP report that may print a number as high as +300,000k on Good Friday.  After the Q end is done with,  it will be interesting to see how the market positions itself ahead of a report that comes out when the market is closed.