In all markets, there are uptrends and there are downtrends. And then, of course, there are periods where there is no trend at all and it’s just a mess. Ultimately these messes find away to clean themselves up and a new beautiful trend is born. This is just the evolution of markets, that by definition trend. It’s our job to try and find them early in their growth, or, on the other hand, look to benefit from the downside of an aging and changing trend.
It’s the sideways markets with no trend that’ll get you. This is what some of us refer to as a chopfest, and is exactly what we’ve seen in the 10-year note yield over the past couple of months.
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