Increasingly negative tone from tenors, sopranos, orchestra…

Posted on Jul 27, 2015 by in Letters

Since February we have observed the market grinding its way nowhere.  In this process we have seen wedges and --potentially-- a head and shoulders.  Investors have apparently left the market or not re-entered.  And when the cat's away the mice will play, and the contrarians have been having a field day -- and undoubtedly wracking up some nice profits.  This is their favorite kind of market.  We investors can largely overlook this mousing around -- until it carries on too long and becomes obnoxious.

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