Good news, bad news, confusing news, damned news, misleading news…

Posted on Jul 31, 2009 by WHC Bassetti in Letters

Here's the good news (if you're a bull, which all good Americans are, by reflex.  Bulls are what made the country great and built the railroads, and crossed the prairies and raised the Empire State Building and grew Wall Street and created the tech bubble and the real estate bubble and credit default swaps and...but we digress...) as we were saying, here's the good news -- the S&P is within an eyelash of our can't fail, unambiguous, sure to be correct stop which means the bear market is over and it's tie to get out the old chaps and 10 gallon hat and get ready to ride the bull.  Well, that's all bull sh**.  But the stop is 991.04.  For whatever it's worth.  Generally speaking, in the past, it's been worth a lot.  Now for the bad news.

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