For some reason I watched the web-feed of Bloomberg this morning. The talk was Home Depot buyback (for some reason they weren't mentioning that they SELLING NEW DEBT to raise money for the buyback), various takeover rumors, blah blah blah.
There were sitting around mentioning that the market looked to open higher about 20 times or so.
So what happens at the opening? It pops initially, then long bonds started to sell off, and there goes the rally. Now we appear to be stalled slightly lower.
There is no predicting of course where we will close today, but like I've been saying, the path of least resistance (literally) appears to be lower right now.
Don't let the talking heads talk you out of your dollars!
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