Tony, this is the second breakout attempt at the higher resistance level, nasdaq already failed 4 times at the lower level. This is an extension of the discussion we had few weeks ago when I mentioned the markets were pivoting. Like ozzy said, it'll take a couple of weeks more for stocks to figure out which way they want to blow. A breakout sooner would be a clear indication, but I suspect we'll see some grinding to clear out any remaining weak hands. Btw, if anyone is interested, the wsj online is free this week. I'm not a subscriber, just thought I'd mention it. http://online.wsj.com/public/us?mod=OHP2OSM01
Exactly, if you invest in bonds directly, higher required yields will mean capital losses if you don't hold the bonds until maturity. Good to see that my utterly horendous bond class that I'm enduring in University right now is doing me some good, but I will be very glad in a month or so when I can forget about duration, convexity, PVBP, etc. Ugh!!!
One of the more astute comments on this board in a long time. I concur 100% . . . the deflationary forces out there are HUGE and will really surprise a lot of people at some point in 2006.