Sotcks continue to tick lower. At some point we are going to hit some stops. The dow hit a new high as did the Nasduck, small caps, and spoos topped out at or before there highs. The stakes certainly seem very high right now. Everyone wants a bonus, but everyone cant be long.
In other news. The writers of credit insurance will be the recipients of the largest bonuses on wall street. I'm going to go out on a limb and say that this is the peak for CDS writers. It really cant get much better. S&P has reported that credit quality has deteriorated for 25 years with all most all issues in junk status. Hey, just leverage yourself to the hilt its OPM.
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