Posted Friday, June 15, 2007 @ 12:01 am by Dr. Wish
GMI: 6; GMI-S: 75; Short rates continue to fall; FTO rises
The GMI is back to 6, after rising to 5 on Wednesday. 
In addition, the short term interest rate indicator I have been writing about fell yet again on Thursday and is approaching its weekly low. This indicator continues to suggest that the Fed is letting short rates fall. Anyway, why do they need to raise short rates when the bond market has already driven long rates up? Rising mortgage rates will do a lot to cool off this economy and the Fed will probably have to come to its rescue soon.
In the meantime, I eagerly await option expiration on Friday so that I can collect my 3%+ monthly premiums from selling calls. Also, note that FTO, which I wrote about at 40.26 on 5/31 (I own it) is now at 42.91 and appears to be gaining strength….
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