Train coming. Get off the tracks.

Posted on Jul 16, 2009 by WHC Bassetti in Letters

For whatever reason (and reasons are hard to find) the head and shoulders party has been postponed.  Good trading tactics require that you scale out of some index shorts, which we are doing.  The reason for scaling out is that a Basing Point has been violated.  Note that the filter stop has not been touched, and may not be.  But in times of  rabid cross currents tactics should be adjusted.  We will address the larger implications of this in a later letter.

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