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February 1, 2011

Turnaround Tuesday

Today was a good day to be long precious metals and a great day to be heavily short the U.S. Dollar Index. Short equities? Well, not so much. Equities underwent a fantastic turnaround as the S&P 500 leaped nearly 2%, giving bulls a brand new high for the 22-month rally and narrowly averting the formation of a failed daily cycle. A bear could, however, curiously note ...


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