IS THE STOCK MARKET RALLY TOPPING OUT? My answer is, as usual, who knows? But this bit interested me:

However, traders have been concerned that on several days in the past week, market volume was dominated by heavy trading in low quality financial names, like Fannie Mae [FNM 2.04 0.12 (+6.25%) ], Citigroup [C 5.23 0.18 (+3.56%) ], AIG [AIG 50.23 2.39 (+5%) ] and Freddie Mac [FRE 2.40 0.16 (+7.14%) ]. “If you took the top traded stocks and gave them normal volumes, overall volume would be down 30 percent,” said Hogan.

So much of the “rally” is in junk-financial stocks for companies that are, basically, controlled by the government? I’m not sure exactly what that means, but it’s hard to see it as anything promising.

UPDATE: A reader sends this link, which leads to this post at Zerohedge. What it all means, if anything, is, er, above my pay grade.