Good news is that the market is truly broadening out to Europe and to smaller cap stocks this week, albeit on lighter volumes than we’d hope. The bad news is with the concentration of ytd winners, it makes for a nervous market with brutal single stock moves when the leaders take a back seat.. The profit warning on mighty Airbus (-9.4%) was trying to singlehandedly unwind one of Europe’s premier ‘momentum’ trades of the year (SXPARO over the SXXP is now down 8.5% from its recent all-time April r…
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