Got whiplash yet?

Posted on Jun 29, 2012 by in Letters

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

We once compared market action to drunk squirrels running up and down a tree.  We've decided that drunk doesn't do it justice.  Squirrels on meth, rather.  But today's squirrels may be blasting off into a new wave.  At the very least we are lifting parts of our hedge and assuming for the moment that the new upwave has begun.  Of course there is always tomorrow. (or Monday -- Angela can always torpedo Europe over the weekend (das boot?).)

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