Long the Dow and the Qs.

Posted on Oct 05, 2009 by in Letters

As we pointed out a day or so ago the wave pattern in the indices has been surge, drift, flush 'em out and surge.  Today we lifted our Q and Dow hedges and bought the FAS and the QLD.

Ordinarily we would not be so active.  We're basically lazy and phlegmatic investors.  There is nothing we like more than a months (or years) long trade that quietly piles up profits while we snooze.

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