Back in mid April we blogged about why all that $4 Trillion in cash on the sidelines will NOT get their 20% pullback to put it to work. We blogged that the only way we would see that trend change is on a "blow-off" type day when things go parabolic... Possible catalysts? LOT's of Treasury supply coming to market next week...If bid to cover is not 3:1 or better could send nervous signals throughout the markets. We are almost through earnings season...no more near term catalysts? Bank stress test results get leaked? Material Dollar weakness? Or perhaps as simple as major indexes butting up against their 200 dma. Perhaps we are here (I just picked two random proxies) :
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Friday, April 24, 2009
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