A little Puzzlement Today

Our read on the effect on the stock market around midnight last night is being called into question this morning as the market has rallied to around yesterdays highs.  We were bracing for a setback in the market on our modest long position that we built over the past week around the 1370 area.  We are around 18 percent long (over the four Funds) with the 1435 S&P objective in mind.  So watch this early action closely, upside potential is almost perfectly balanced with downside risk, a 1345 to 1435 trading range.

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