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Richard's Remarks


From its recent high, the Dow (intra-day yesterday) was down almost 200 points. Normally, this would be considered an overdue minor "back-off" from an overbought situation. However, there are a number of problems. The Dow is backing off from an unconfirmed new record high in the Transportation Average. When one Average advances to a new high, and that new high is unconfirmed by the other Average, trouble may be waiting.


The question for the investor then becomes, "What do I do now?" If the investor decides to wait, he may be sitting in a market that is continuing to decline, meaning that his losses will be building up.


In this kind of situation, the investor who is out of the market has an advantage. He does not care how far the market may drop, because he has no commitment.


In the current situation, I am on the sidelines. But what of the ... Log in or subscribe to continue reading.

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