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Oops, 5.11 now. :D

But the market chose to read it the wrong way. Remember the "experts" have been feeding the street with the triple rate cut bullshit since last year, up till like a month ago, the talking heads on cnbc were still talking about rate cuts lol. Now that the 10 year has broken 4.9 and...

Anyone agree with me that we are going to 5.05?

I think only the stupid shorts care about whats going on in China.

Other markets? Most Asian markets weren't affected by the meltdown. There is nearly zero correlation between China and the rest of the world when it comes to equities.

Exactly, nobody can predict the markets, that is why ppl who try to predict tops and bottoms often go bust. Just trade what you see, buy into up trends and sell into down trends. KISS.

And the fact that the economy does not look half as bad as what many had thought is proof that the bond bulls were wrong.

All the bond bulls will capitulate eventually, that is when they come to the realization that there will not be a rate cut anytime soon.

1.65% is nothing. The hang seng has gone nowhere since Feb. Its still below the highs it hit way back then while most markets have gone on to hit record highs.

The stupid shorts are fueling this bull market. As long as money remains cheap, there is no reason to be short. I'm sidelined right now cos the yield on the 10 yr has broken an important technical resistance, I think it might be approaching 5% soon, that is certainly not good for stocks.

I never let my winners turn into losers, no matter what. If I have to sell to break even I will do that.

Yeah, I noticed that stocks and bonds were moving in opposite directions for quite a while, could be fund managers re-balancing their portfolio to take advantage of the higher yield i.e selling stocks and buying bonds. The housing numbers due later should be interesting.

Interest rates have been going up, whether you like it or not. 4.90 on the 10 year is an important technical resistance and we are awfully close to that right now. I think tomorrow's housing numbers will be crucial.

Told ya so.

The actual numbers arent important, its the interpretation that matters.

I think it has more to do with interest rates than Greenspan's comments. Watch the 10 year note, and Im not buying this dip, yet.

Rofl keep shorting these "tops" pls.

Lmfao over 50% of the jokers on ET thinks we have topped. Now we know why most traders are losers and only 10% actually make decent $$$$$.

And they like to think that they belong to the minority. :D

No? You are not going to make any money from a straddle if its a mere 6% move over 5 months. Now if we lose 6% in a week then thats a different story.