FWIW Our model tracks TLT..Important level 119.50ish..watch vol tlt..vix new low
The above are contra trades to sp..Im sure some are aware..ok
We have all been concerned with low vol with this move up...if bonds start to sell off we will get plenty equity fuel..MMs cash levels 3.5%<would mean nothing compared to asset reallocation< bonds to equities.. If jackson hole produces more twist tlt will be fine( recall not much short term debt left for fed to convert to tlt), if not will be concern.. could be sp rating agencies sniffing around for fiscal cliff..believe me smart $s know<vol/pps will tell the tale.. the above should be considered in overall view
Ill be away monday tues..visiting friends. FWIW..stops important to maintaining investment capital..
Thanks for the update Roger. Hope you had a great weekend and enjoy your getaway with friends the couple of days. Got down to the beach today after watching kid play baseball in 90 plus heat this weekend. We almost had Fla. type water today with 73-4 degree water here in Laguna. The body surfing was good and the water temp was epic as they say out here. No trading form me tomorrow a.m. as I am playing some two man sand at 7:30 am tomorrow morning which will go for at least a couple of hours. Will check in see how things are flying around 11 pst . GL all in this whacky market.