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Meanwhile, at Ballstein Models

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Derek Zoolander just jitterbugged by the office (with an Orange Mocha Frappacino!) to let us know that there's more to life than being really, really good looking. Uh, Earth to Derek, we understand that moisture is the essence of wetness and wetness is the essence of beauty, but it takes more than just a pretty face to profit in this market...it takes patience and discipline.

There was a moment last night, when I was sandwiched between the two Finnish dwarves and the Maori tribesman, when I thought to myself "Wow, there's really a chance that a tradable low could occur in the near future--but the unknowns continue to weigh on this tape. It's not like the economy is smoking and the geopolitical risk is the only caveat. We're in an honest to God profit recession and, while the most vicious of rallies occur in a bear market, we need to appreciate the difference between a trading rally and a cycle turn."

This tape has given many traders prostates the size of honeydews and a heads full of bad memories--but we can't waste our valuable energy looking back. True clarity can only be achieved by looking forward and clearing the mechanism. We've spoken for many years of the inevitable "weeding out" process in the market, and it's in full swing. There will be better times and easier profits in the future...the goal are to be in a position to prosper when they arrive.

Now, if you'll excuse me, I have a breakfast date with Matilda and the water's boiling in the kitchen. More tea please!

R.P

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