• We want to thank to all of you who have served in our Armed Forces on this Veteran’s Day weekend.  We owe you a debt we can never repay. 
  • The 4,400 level has indeed provided some very strong short-term resistance.  Now, the question is whether it will provide longer-term resistance as well.
  • The recent drop in bond yields is going to have become much more substantial to justify a stock market that is trading at 18x forward and 2.4x sales. 
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