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Pastimes : The Philosophical Porch
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From: Rarebird2/19/2008 9:12:04 AM
   of 26251
 
Transcendental Market Fragments:

The Market:

The market sent a very strong warning of inflation ahead last week, but few were willing to listen. The Fed's bias is to inflate the economy out of any downturn. That's why the market is betting that the Fed's reflation efforts will be successful and that LIBOR rates will return to normal later on. And, if the Fed's rapid easing moves trigger an inflationary spiral, stocks could move higher (after the correction/Bear is over), even as interest rates rise, due to the fact that the initial effect of inflation is to inflate stock prices as well as the prices of goods and services in general.

Technicals:

If support (for the 30 year bond) at 115 13/32nds breaks, next support should come in the area of the prior significant low two full points below at 113 13/32nds.

Current Positions:

RRPIX (short the 30 year bond); HSGFX, COAGX, ASFIX.
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