My opinion based on sentiment and retracement levels is that bonds are overbought on an intermediate to long term level. TLT has now retraced basically 61.8% of the decline off the 2008-2009 high.
The AAII survey today showed a very high level of pessimism toward stocks by individual investors - one of the lowest handful of readings in the last 5 years.
The major equity indexes formed bullish reversal candlesticks yesterday. The IWM and QQQQ made nice bullish engulfing patterns. I definitely expect a rally here, maybe even bigger than I was anticipating.
RIMM and STP look like attractive intermediate to longer term buys today. I have both of those.
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