Range Rage

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Well, I’m going to file this under “What was I thinking?” This weekend, I made a point of saying how it looked like we were at the lower end of a range we’ve been in since the start of the year. Freakishly, I was loaded up on short positions. (In all sincerity, the individual charts did look bearish, but we all need to respect the power of the market as a whole to move individual stocks). In any event, somewhat predictably, we have powered higher all week……

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The (possibly) good news for the bears is that we are once again approaching what appears to be the top of the same range. Of course, tomorrow’s jobs report could push us right past it, but for 2015 to date, this to-and-fro in the market has been relatively steady.

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