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Buzz and Banter


I just got in from outta town and am running to a lunch meeting. We wanted to pass along that this weakness appears to be the beginning of the market pause outlined last week. Again, we don't expect major downside, just a choppy consolidation/corrective period over the next couple weeks.

Our thesis remains intact and, as long as the uptrend remains in place (higher lows and higher highs) the question isn't whether to turn more pessimistic, but where to be more enthusiastic. Chasing overbought after a nice run (early October) didn't make sense, but what does could be waiting for overbought to be worked off and bad news to catch headlines, as was the case late Sept.
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