What would you say? Being a bank, they'll likely be most focused on bonds, I think T-bonds will stay between 3.5 to 4% for some time. Interest rates: The Fed might still ease rates a LITTLE more, because this is an election year. It may rise rates in late 2009. Stocks may go up a little more to a bit high valuation levels, then retrace some of their gains, only to rally again by year end to finish the year about 6% up for the year. Commodities are if not at the top, they are almost at the top. They may remain bound in a wide range for some time. Currencies: The dollar might still go down a little more, altought with great volatility, and without a clearly defined trend. What you think, what would you add/remove, corrections?
If you've got guts: "Here is a printout showing the net position of my mechanical trading systems on each of the instruments that I follow (hand over a three page document). If the systems are net long, my outlook is bullish. If the systems are net short, my outlook is bearish. And if an instrument does not appear in this report, it means that I don't trade it and have no particular outlook on its future course. For example, propane does not appear. I don't trade it, I don't follow it, and I have no particular outlook on its prospects."