Gnarly surfing in deep anxiety waters. DIA, FXE, TLT, IED

Posted on Nov 19, 2010 by in Letters

Most analysts have "indicators" that tip them off as to when the market is going to turn and when to buy and sell.  Some have indicators as to general market mood.  Outr general market mood indicator is an old west Texas cowboy named Michael who buttonholes us in the bars and coffee houses we frequent.  Michael says there is deep unease in the investment community.  We believe this 100%.  All you have to do to see symptoms of it is look at the major market indices over the past 10 days or so.  1.6% up, 1.78% down.  Enough to tip a trader off his surfboard.

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