TXT bulls get it wrong....

Where we're at:

Dow: 14,547.51
s&p: 1555.25
10yr: 1.70
s&p P/E: 22.82
VIX: 14.97

equity: 35
bond: 32
cash: 33

1yr: 5.3%

Well...the call on 4/17 was brutal.  Scott D. announced a production reduction for 2013 preceded by voluntary layoffs (about 1 a year at CSNA for the past 5 years, if you're keeping score).  He finally seemed to throw in the towel again and acknowledge that buyers are waiting for a price pullback that he does not want to play.  Seems like a reasonable strategy.  It appears that maybe jet buyers are also waiting for new model deliveries to materialize.  I sold some shares on 4/11 (30.02), glad to cash them in.  I hold ~150 now.  Toward the end a very interesting discussion took place around the 2015 time frame, when Bell may be ramping down the V-22.

I recall the activity in 2009 around Columbus and how those folks got their deposits back, maybe being burned once is causing some hesitation to commit.  He was also asked about the dividend and replied that no increase is forthcoming.  So maybe the yahoo message board will get the 'message' and stop blathering on about a dividend increase being just 'around the corner'.

Anyway,  I also took this opportunity to buy some IAU, I hope to build a position over the year, if the metal continues to drop.  We appear to be going into the typical spring pattern of the last few years.

New job is going ok, still feel 'dumb' but I'm coming along.  Spouse seems to be getting deals done again, hopefully that will continue throughout the year.