Quote from Chood:
I believe 'Zapper is correct, although not for any reason evident from tape reading this afternoon's equities action. In case you've missed it, we are in a bear market for bonds. Consequences for equities are inevitable.
I'm so convinced that I'll short the S&P front month pre-open Monday, on expectation that today's bonds losses won't be recouped by mid-day Monday. Monday afternoon sets up for sheep shearing de luxe, or at least as table setting for the rest of next week and the month of July.
Index wise, come daybreak Monday, I'll be on the giving end of the shears. I'm there already in individual stocks -- positioned only I mean, because thus far, in those short positions, I'm the shearee, not the shearer. Those shorts include a position added just today (MAR). Nothing dissipates faster than sector helium (hotels in this case) in a light volume week.