For you guys looking at picking up some RY, TD, TRP, PPL etc. I am not selling any of those that I hold but, I am sitting on cash and I am going to start legging into these stocks. I won't start doing that till this big downdraft seems to have bottomed. It is really hard to pick a bottom but at the rate the share prices are dropping the last couple of weeks, there is more downward pressure than upward right now, so might as well try to get them as cheap as possible. All of these stocks are negatively correlated to interest rates so as long as the long bonds are selling off, means long rates are rising and the yield curve is heading back to a normal slope where long rates are higher than short rates. Also, short rates are still rising because inflation is still running hard. Might as well sit on the sidelines and start legging in once that long rate momentum abates.
Anyone that bought at 117 or 113, I would not be worried longer term. If I was I would have sold down my positions already.
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