Interfund Transfer 6/20 for 6/21/06

[tsptalk]

I am making an interfund transfer this morning going to 30% C, 35% S and 35% I fund

[Mike]

Timed that one well...

[HarryPotter]

I am making an interfund transfer this morning going to 30% C, 35% S and 35% I fund
Do you know if you posted in time for it to be effective last night. If so you made over 1% today.
Harry:)

[tsptalk]

I made my transfer on time (I actually make the transfer after I send out the email alert and update the this message baord) but unfortunately it looks like the email alerts are not getting to everybody timely. It took 45 minutes for all 9000 to go out and I was not aware of that until yesterday.

No big deal since it was just a 20% change, but if we end up with a 1% to 2% day, it does have a little impact on the bottom like - although still just a fraction of 1%.

[Pilgrim]

Tom,

You have spoken at length about the " long-term buy signal" that has been driving your plans lately. In today's comments, you speak of it as a single thing, possibly meaning some confluence of patterns. Could you explain to us exactly what it is?

[tsptalk]

It means two of the following are in a bullish zone:

Valuation, psychology, and monetary conditions. Only valuation was in bullish territory until sometime in May when psychology moved over. When 2 or 3 of them are in positive territory - based on a series of indicators that we talk about, it is time to think bullish for the next 6 to 12 months. But anything can still happen in the short-term.