Friday, October 02, 2009

sold long unit at 1023.25


Charles Upton said...

Hello, I am just wondering how you arrived at your SPX1120 target? Not disagreeing with you, but am curious as to your reasoning/charting. Thnx!

Market Karma said...

Carl,, The bond market has now reached my target of 100$ as per the TLT bond etf. I now think a correction lower in bond prices will carry the TLT to first target of about 96$. But if prices are indeed headed much lower as you believe, I see a TLT target of 81$ which would probably be around 5 to 5.3% for the 10y bond yield. I have spelled it all out on the marketkarma blog if you have interest. But I am curious to know if you think seeing the 10y bond yield north of 5.0% will be perceived bullish or bearish by stock market investors