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POSITION: Short Consumer Staples (XLP)

On every duration that matters in my risk management model, this stock market does not look good: 

  1. TAIL (1266), broken
  2. TREND (1247), broken
  3. TRADE (1181), broken 

And it may be becoming “consensus”…

But consensus can remain right, longer than some can remain solvent.

I do not think this is 2008. I think some refuse to learn the Globally Interconnected lessons of 2008.

This is 2011, and my most immediate-term TRADE line of support is now 1117.

KM

Keith R. McCullough
Chief Executive Officer

Not Good: SP500 Levels, Refreshed - SPX