Interesting Doings

The overall market is gurgling, back and filling today, but there are some interesting things happening.

I got stopped out for a small loss in TLT, i.e. bonds are getting hit a bit. Things are still ok for TLT if it can stay north of $87.2 or so. However if we start getting a weak rally after today and then stall, that would cause me to eventually go back to my stance of "short the treasuries" over the next few weeks...we will see. The cystal ball is still a bit cloudy.

Consistent with the bond action, Gold is also getting hit. I'm wondering to myself if I should take the money and run from my GLD position. More likely I'll just watch and see how far the retracement goes. I've a tiny gold position, no big deal.

I tossed PCH (Potlatch Corp, a REIT that deals with timberland) into the volcano at lunchtime. I don't know what happened to my stop, or maybe I never had one? It's profits took a big hit, just like every other REIT, and it's staggering below the 50-day EMA, so bye-bye, nice to know ya.

The US dollar is getting a bit of a boost...I still think the EUR/USD is itching to hit the record, but not today.

So far I'm still up a bit on the day, because of AAPL, ZMH, TUP, DLX, and VLO, the rest are down a bit.

So the story of today IMHO is the weakness in bonds...make no mistake, eventually that action will effect stocks.