With the exception of monthly housing data due out later this week, it looks to be a slow week for economic data. Futures are indicating a positive market open, adding further evidence that liquidity is driving the market. Mergers and acquisitions continue to add support as well, as TPG Capital and Goldman Sachs (private equity arm) agree to take Alltel private. However, no tree, however strong, grows to the sky - so we’ll be looking at some of our valuation models closely over the next week or so. Given the recent strength in the market, and the fact that we will soon be entering June, it may be time to do some rebalancing of the portfolio.
