Bulls rule. Very timidly…

Posted on Sep 19, 2010 by in Letters

This wek was largely a continuation --now 15 days of uptrend without a pullback to give us a point on whiih to anchor a trendline.  If you want a temporary trading stop you migh put it 2% under Friday's close.  We don't get excited by runs like this  because we are accutely aware that a downwave will shortly occur, and until that happens  we look at it as the market's money.

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