One thing I've learned from all the reading I've been doing this year is how the bond market figures out downturns way earlier than the equity markets. Watching bond markets as a leading indicator can be instructive, and those who have done fantastic with the ultra-bearish-on-bonds TBT lately are reveling in this reality.
Take a look at LQD, below, and ask yourself if that market seems to have turned downward or not:
At this point I'm going to say farewell for a few hours as I head off to the real slope (alpine skiing style). See you later!
