Boxing, marathoning, surviving…

Posted on Feb 08, 2010 by in Letters

One of the important uses of this letter is to call attention to the ongoing state of the market -- when it's trending and when it's trading.  This is one of the most important questions in investing (and, obviously, trading).  Amazingly many traders don't know when the market is in a trading mode --except for the fact that they are making money.

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