Well, until this week we were staying long because the trend was up. And now? Well, now it’s most decidedly NOT up. Of course, it all depends on your time frame. On a monthly basis, for example, the trend is still up, but for now, expect more weakness.
Aren’t bonds supposed to run opposite the market? Not today as the iShares 20+ Year Treasury Bond ETF (NYSE:TLT) got clubbed. Guess the market sees a rising rate environment!
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Hey, there was at least one stock that didn’t collapse on Friday, and that was Apple (NASDAQ:AAPL). Guess everyone’s waiting for the Monday details on the Apple Watch. Or, they just want to own Apple. I do like the stock, especially if it sees $120.
Back next week to see if I can FINALLY put away the snow shovel!