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October 16, 2013

Stocks Rally Again

Stocks rallied again and are now within a few S&P handles of altering our cyclical framework and stopping me out of my NDX short. This rally began last week after Republicans agreed to tinker with the debt ceiling. Today's rally came on the heels of a Senate bill which is expected to get pushed through the House, allowing the government to operate until February. But personally, I believe the Republicans made a huge, unnecessary drama over an issue for which they had no hope of succeeding. A friend of mine, who has worked as a high-level consultant on Republican Presidential campaigns and occasionally blogs on politics via e-mail, sent me the following note today ...

 

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