Confusion rains. River floods.

Posted on May 15, 2011 by in Letters

The Mississippi floods and the punditry leaks just as much wisdom confusion and nonsense -- and the markets seem to be listening.  Everybody's got an opinion -- unfortunately.  Big names saying to cut and run now.

What is the market saying?  A down wavelet in an unusual place and an apparent stall in momentum.  What do you do?  Wait for the chart to sort it out.  We have marked the new stop for the SPX --1217.08.

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