The Big Smart Money Corona Del Mar, CA   Hey , Before I get into what the Smart Money is saying for both stocks and bonds, let's look at what sentiment is saying... This is the spread between AAII bulls and bears survey.   It comes out every week since 1987.   I'm honestly not a fan of sentiment because well, you know, that's just like uh, your opinion, man (said in The Dude's voice).   But hey, it's interesting that it was the WORST spread since 1990.   There was a quick, pull off the band-aid, 20% bear market.   It was right before Bush Sr struck a deal to raise taxes. Remember the "read my lips" speech?   Imagine that...a politician didn't keep is word.   The stock market RIPPED onward and upward after that survey.   // Quick aside: I've purchased a ton of data lately to feed to The Boss supercomputer network. Among other things...final verdict coming in on sentiment soon. //   Now where was I?   Oh yeah, the Smart Money...   Small traders have been selling short the E-mini S&P 500 like mad.   Apparently they have a death wish.   S&P 500 = BUY   Long-term Bonds = BUY   Sounds about right.   The financial industry is laying people off.   I'm hiring.   Go figure.   I might be controversial as a Magic Marker in an art gallery, but as The Dude says...   "At least I'm housebroken." Trade smart,   Dan "Prince of Proof" Murphy                           Portfolio Boss, Inc. 260 Newport Center Dr, Suite 100 Newport Beach, CA 92660   Don't want to stay in the loop with Dan? We'll be sad to see you go, but you can unsub to no longer receive emails.   Government required disclaimer: The results listed herein are based on hypothetical trades. Plainly speaking, these trades were not actually executed. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under (or over) compensated for the impact, if any, of certain market factors such as lack of liquidity. You may have done better or worse than the results portrayed.