Bull?

In light of the recent back off in bonds and the latest hyped PPI number I would have to say that things look bullish. But I don't think I will be buying today. In a way it wouldn't bother me for the Fed to do one more rate hike and then to sit still until next year. I think that would mean that the economy is staying strong so corporate earnings will remain strong and the stock market will head higher. If the fed cuts then that will bring on worries about how much the economy is slowing and how much of an impact we will see on corporate earnings, which means selling of stocks.

something big

This move feels like the beginning of a big shift in market sentiment. Reit's, Utilities, and one of my bond holdings are taking a major hit. Fortunately they are all CEG's and are getting more undervalued, which I am hoping will attract more buyers when the selling is done. I am holding them for the dividends and for the long term. I have a nice cash position for doing some buying but I don't think that this is a good time to start loading up. Looks like the summer doldrums have arrived and if the Fed were to raise again, which I think is possible, we could see a major market meltdown, worldwide.

Turbulence

Well the long awaited selling is finally here. I had to bail on a couple of longs I had and take a little loss. Still holding ddm and sso and so far regretting it. Reit's and Utilities getting killed. Went short with qid, but the way things have gone with these etf's I doubt that I will make very much if anything. Will the dip buyers re-appear? I say not to the extent that they have been. I won't be doing any buying today. Will have to see things stabilize a little first. Sitting about 40% cash.