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To: mishedlo who wrote (203510)	11/8/2002 12:37:19 PM
From: reaper	Read Replies (1) \| Respond to of 436258

you should know that i am pretty much ALWAYS sarcastic. plus i'm trying to play a little reverse psychology on the market <g> i am out of 60% of my bond position, as of yesterday. i sold 20% at each of 3.95, 3.75, and 3.60 (as per my original plan to sell 20% at each of 3.xxx, 3.80, 3.60, 3.40 and 3.20). i also made a couple of 'trades', the most recent buying back the 20% i had sold at 3.60 for 4.15 and then selling yesterday for 3.90. so what i have left is my 40% waiting for 3.4 and 3.2. i THINK the 10-year will eventually get to sub-3 but i'm not going to place actual money on it. so no, i don't think the bond rally is over. but i'm not betting on a continuation with a lot of capital. Cheers

To: mishedlo who wrote (203510)	11/8/2002 8:38:50 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 436258

Mish, If we get deflation, and with a Greenscam Fed combined with a Punky Bushter white house and no grownups in Congress, it looks like we're heading that way, then super high quality bonds are golden. I still think high grade munis are the best play in town, especially after the recent crash. High relative yields, and the leveraged funds are able to borrow one week AAA money at about 1.5% now. The folks who panicked out of quality bonds to buy Intel and IBM are going to be very sorry. Junk bonds, though, will be death on a stick. The key is figuring out where the junk starts and the high quality ends. I know AAA and AA will remain golden. I'm not as sure about A ratings. And BBB will have a tough hoe to row. I mean a tough hoe like Courtney Love. <g>