Tuesday some of my laggards like Pepsi and LVS got some legs. Be clear, there is no credit due for that….the market only pays off on positions not opinions. However these movers combined with a steady IWM, and one definitely doesn’t want to be trading the short side.

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The odds favor consolidation at worst with a fair chance of further melt up. We are now entering the busy part of earnings season. With the Federal Reserve no longer front and center earnings are very important. I don’t like gambling on earnings for the most part, so back to patience mode. Still long TLT from 93.80 last Friday open.