An email I received; reprinted anonymously with the writer's kind permission:
I have endurance, and am analytical in spades. I have the same feeling as you when you described being somewhat discouraged with your results for the last little while.
I am a little late with my resignation to the facts (ie since march of this year, there have been a tonne of rabbits pulled out of the proverbial hat)
I plan to start nibbling away with a small part of my portfolio, keeping the rest in cash.
I am not a conspiracy theorist, but rather a stark realist. If you're looking for an explanation for what has been happening with the markets since march, I'm positive that it is simply the US Federal government "reflating" stuff. Of course with the help of Goldman Sachs, and other executors.
I am resigned to trading ranges, for the leftover crumbs that the puppeteers are dropping along the way—-and hope that some time in the near future that the price charts will take on the shape of natural commerce rather than this violent "pump and suck" environment.
