Grinding
Posted on Monday, April 27, 2009 by Risk Manager Jeff
Another volatile day. This market is really starting to grind up and down. For most of the month, the S&P500 has been skipping rope around the 845 price level. To me, this does appear to be the latter stages of froth in a bull run where the most speculative of names make their moves. 
My targets for this pull back are 820 and 780, but if we make new highs, I think it could potentially trap a pile of bears.
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