Exposing Ideas to the Envelope of Serendipity

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Thursday, September 24, 2009

Suspension of Disbelief

Market bulls got a stinging splash of reality today, having gorged on gains for months as stocks seemed to defy both logic and the laws of gravity. While it's too soon to know whether today's sell-off will turn out to be only a one-day event or develop into a more meaningful correction, the next support of interest to watch on the $SPX sits another leg lower, in the 1034-1040 zone.

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