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A friend of mine manages a multi-million dollar fund and sometimes I think he is afraid to admit the truth to himself. Days like today wring him out like a dishrag. We have previously discussed what happens when days like today happen. What happens when you get two in a row? Three? Five? After five days, other feedback loops might kick in because that is a 2000 point loss in 5 days, other fears and factors are put in the mix which all put downward pressure on the market. A clip from today’s
Saturday, June 7, 2008
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