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[MikeyG]

Today's bearish action in equities was not nearly significant as the bearish action in treasuries, in my opinion... Regradless of what happens with QE, rising yields will hammer stocks as we've seen today... Last post, the conclusion was that the Fed is in a box as the one commodity people care about by far and away the most is gasoline... This commodity is in a large wedge and could easily break to the upside if QE continues (which could end Bernanke,Yellen and the ecnomy all at once) OTOH, the market is not properly priced for rising yields... In fact if the long end pushes up another 30-50 basis points in the current growth envirmonet, the market should sell off... And continue to sell off and sell off...

[no_mind]

Today's bearish action in equities was not nearly significant as the bearish action in treasuries, in my opinion...

REIT's and Utilities sure didn't like the sell off in treasuries.

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