Fannie and Freddie's balance sheets are expanding almost as fast as shares outstanding at Cisco. Or almost 3 years worth of total mutual fund inflows in this country. We can hardly wait for second quarter performance. As we have mentioned far too many times, in a bull market, price is all that counts. Conversely, in a bear market it's all about units - number of shares for sale.
Price is almost an afterthought when the masses are headed for the exits.
It's going to be a long line. You know the old saying. You were the buyer. The chances are pretty good that Tim's comments on the chart are right on the money. We'd make the strong bet that most of the windows have been dressed.