Strong Bond the Long Bond
There was more rubbish today about China selling treasuries and the debt ceiling signaling the death of bonds, but long bonds have been strengthening in the last two weeks and look to have bottomed. TLT looks to have bottomed near 90 and has strong support at this level as well. While the fun-employment numbers later this week may be a set-back for TLT, bonds are firming at these levels. With QEII ending I would not be surprised for TLT to make another accent to triple digits.
Silver is getting crushed over the last two days-- is this a true Sell in May scenario or a head-fake on the way to $60?
Insiders Tell the Truth.
Please take the time to visit http://www.j3sg.com/. They offer FREE information on insider trading. Today's volume on insider selling to insider buying will BLOW YOUR MIND. There are massive amounts of money being pulled off the table daily while hardly any inside money is being reinvested into the market. I don't need to be a wizard to know what this means.
The buzz from QEII will wane soon, but there is probably one or two more jolts of tequila left in this drunk market before everyone passes out from exhaustion.