Just a very quick note on the Equity Markets as a Whole.
Friday was yet another day of distribution by the smart money, so please do not get fooled by
the price action of some indexes.
It is important to note however that the bulk of the distribution by the big money has been
in a hedge type fashion. Which really helps to confirm our outlook for a sharp correction of 8%-15% followed by a hell of a rally.
I am not a bear by any means. I just recognize a market that is very tired and needs some
fear put into the players before it can continue the secular bull market!!
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