a nice run up....

Where we're at

Dow: 9093
S&P: 979.26
10 yr: 3.67%
VIX: 23.09

equity: 34.5
bonds: 30.8
cash: 34.7

1 yr: -5.27

The last two weeks has seen a run up in the market. Several Dow companies reported decent 2nd qtr earnings. This week TXT reports its 2nd quarter earnings, I don't think it will be pretty. The Dow reached 9,000 for the 1st time since Jan. At our last meeting with the director, she exhibited a bit of optimism, but I don't think she really has much of an idea how things are. More layoffs are scheduled for August and IT is still scheduled for the fourth quarter.

Our project went live this week, mostly successful. I was on call and I think I handled it ok. I was available when I needed to be and turned issues around quickly. J had a nice surprise with a large commission check. Because of that, I think I'll scale back my vacation pay for my next 2 weeks of furlough. After a brief drop, the 10 yr treasury has run back up. The bond market still seems to be predicting higher interest rates. I think the Fed will begin to tighten by the end of the year. Oil is still bouncing around, now it's close to $70/barrel again. I think our EWC will eventually play out, just need to give it some time. Fortunately, I am patient :)