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Old 01-10-2018, 10:29 AM   #3
Teach
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Join Date: Dec 2007
Posts: 4,032
This may sound like apples and oranges. Yet, hear me out.

Years ago, I used to go fishing for “blues” on open-party boats out of Niantic, CT. I recall one time we motored out about 5 or 10 miles into Long Island Sound and put our poles in the water. Nothing. About an hour later, we tried another spot. Nothing. Then, we moved again. Nothing. I was becoming discouraged. The warm sun beating down... Some in the group reeled in their lines and headed below deck. All of the sudden, it was Oklahoma Land Boom. The California Gold Rush. A large school of blues were hitting our bait with reckless abandon. It was a feeding frenzy. We could see them break the water. On board, we we're going over and under. Wherever the fish’s movement took us. When we returned to the dock, there were a lot of happy fisherman. Myself included. To add the marischino cherry to the whipped cream, I won the the party-boat pool...by a nose. Or, should I say an ounce. Four fish and all expenses paid.

This current economic situation reminds me of all that. I believe a seminal event may be just down the road. Now, the new Fed chief is saying he wanted to wait until this coming summer to raise rates instead of this past December. As Lamboguy mentioned in his post, the bond market has been in a bull phase for nearly 40 years! Has the worm turned?
__________________
Walt (Teach)

"Walt, make a 'mental bet' and lose your mind." R.N.S.

"The important thing is what I think of myself."
"David and Lisa" (1962)












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