Where were we...,

seems like maybe the market got it's old bullishness back... and yet I have my old bearishness back.

There is nothing I like about a weak dollar, as Kudlow says "You can't weaken your currency into prosperity."

this all just feels like the old "Inflation" "decoupling" trade.

I'm still very cautious about the charts... I'm not going to post one... but with that massive move.. I'm just not convinced either way... I want things to stabilize so I can see some charts.

I still doubt a ton more buying(but that is just how I feel, buying the market because of hyperinflation seems stupid to me.) I mentioned to Tony, that the entire 73-75 market cycle was "coming to terms with inflation", that is how I read that macro.

Also I can't list the massive problems with housing, No buyers, TOOO many sellers, too many high end homes, nobody wants to loan money at 3%.

even my bank thesis needs some work, with spreads on the 10 and 30 crashing down, it's harder for them to make money.

Also, we need the market to stabilize, we need things to shake out. not to add a weaker dollar, and some kind of arbitrage of treasuries to Mortgages.

ON SENTIMENT:

I can make a case for "buy the dip" into euphoria yesterday.

My trouble is I don't have a good investment thesis.... I'm looking for one.