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October 17, 2011

Remaining Patient

Stocks finally took a meaningful breather from an 8-day ramp that saw major indices higher by 15%. Despite today's healthy drop... along with the market's recent tendency to produce large whipsaws... I am not so eager to try anything on the short side. Those whipsaws, as we can see in retrospect, were part of an unusually complex bottoming process. Now that we are ...


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