Bottom bottom who’s got a bottom?….

Posted on Jun 06, 2012 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p88572661534&a=214966864

Today's action looks like a broad market signal to us.  We lifted some hedges and committed a smidgen more capital to the market.  A 2.30% day in the SPX is not to be ignored.  The downtrend line is close enough to smell, as is the 20 day moving average.  Both should provoke buying.

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