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I still have some cash left over from the IBIT reduction earlier this week, and I am buying more PIMCO 15+ Year US TIPS Index ETF (LTPZ). The position, my largest, is below 25% (the maximum). The trade: Buy 20 LTPZ at $48.37 The updated model portfolio:

I trimmed it on June 25th at a higher price, and it is lower now by more than the dividend that was paid as long-rates have ticked up. I am boosting PIMCO 15+ Year US TIPS Index ETF (LTPZ): The trade Buy 75 LTPZ at $49.64 The updated model portfolio:

What a strange week! A Friday holiday, which is rare and not even the day (the 4th of July is tomorrow, but the stock market is closed today), a big wedding (I wasn't invited, lol) and a 250th birthday celebration of the USA. I still remember very well the 200th, when I was 11 years old. Last week, I discussed the changes ahead with my coverage of the ETFs, and I did detail those changes in the June Review. A Look at the Market The State Street SPDR S&P 500 ETF (SPY) advanced

I continue to think that it makes a lot of sense and to like it, but I am trimming PIMCO 15+ Year US TIPS Index ETF (LTPZ) again. For now, I am adding to cash. The trades: Sell 50 LTPZ at $51.32 The updated model portfolio:

On June 11th, I extended from Vanguard Short-Term Inflation-Protected Securities Index ETF (VTIP) to PIMCO 15+ Year US TIPS Index ETF (LTPZ) in my model portfolio. Today, I am trimming LTPZ and also reducing Vanguard Short-Term Treasury Index ETF (VGSH) to add to VTIP. The trades: Sell 35 LTPZ at $51.06 Sell 40 VGSH at $58.16 Buy 85 VTIP at $50.11 The updated model portfolio:

I added to iShares Bitcoin Trust ETF (IBIT) on Thursday, and it is bouncing today. The position is quite large, and I am reducing it in favor of more PIMCO 15+ Year US TIPS Index ETF (LTPZ). The trades: Sell 50 IBIT at $36.94 Buy 35 LTPZ at $50.84 The updated model portfolio:

I had recently reversed a trade from 5/26, adding to PIMCO 15+ Year US TIPS Index ETF (LTPZ) after reducing Vanguard Short-Term Inflation-Protected Securities Index ETF (VTIP). I am doing it again at slightly better prices. The trades: Sell 50 VTIP at $50.34 Buy 50 LTPZ at $50.47 The updated model portfolio:

I have recently reduced my TIPS exposure, selling from both ETFs despite my concerns about inflation. Today, I am reversing the trade from 5/26, adding to PIMCO 15+ Year US TIPS Index ETF (LTPZ) after reducing Vanguard Short-Term Inflation-Protected Securities Index ETF (VTIP). The trades: Sell 25 VTIP at $50.32 Buy 35 LTPZ at $50.49 The updated model portfolio:

Yesterday, I started a position in iShares Bitcoin Trust ETF (IBIT), and I am boosting it today at a lower price. IIt was hit hard yesterday on news about MSTR selling some and also what has been going on with flows out of ETFs. I am trimming PIMCO 15+ Year US TIPS Index ETF (LTPZ), which just paid a dividend this week. I still have a lot! The trades: Sell 35 LTPZ at $50.71 Buy 55 IBIT at $37.91 The updated model portfolio:

I still like TIPS, but I am reducing them. With oil prices falling and perhaps about to fall more, inflation protection may lose some of its appeal. I still have a lot of TIPS after reducing PIMCO 15+ Year US TIPS Index ETF (LTPZ) and Vanguard Short-Term Inflation-Protected Securities Index ETF (VTIP) to add to Vanguard Short-Term Treasury Index Fund ETF (VGSH). The trades: Sell 40 LTPZ at $51.35 Sell 25 VTIP at $50.38 Buy 50 VGSH at $58.32 The updated model portfolio:

My largest position is PIMCO 15+ Year US TIPS Index ETF (LTPZ), but I am reducing it to add to Vanguard Short-Term Inflation-Protected Securities Index ETF (VTIP). The trades: Sell 50 LTPZ at $51.09 Buy 50 VTIP at $50.29 The updated model portfolio:

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There are things that investors who are bearish on stocks can do...

Interest rates are falling (Fed Funds) and rising (anything more than 2 year maturity). Why, and what does this mean for stocks?

TIPS look better to me than other bonds and certainly better than stocks. Cash may make more sense, but I sure like the TIPS.