Eric,
Amen regarding CTSL! I have lost more money on any one of half a dozen CTSL long recommendations than all my shorting missteps put together, including YAHOO! I would not recommend it to anyone, except for the interesting, in-depth technology write-ups that are a part of the letter. But as you note, Murphy has stuck his neck out now, big time. He is buying completely into a suggestion that Roger has made, namely, that we are going to go up before we go down, and has gone from 35% cash to 2% margin in his electronic model portfolio!
IMHO, there is such enormous uncertainty in the market at the moment that I have a hard time believing that we are going to test highs in January, at least if the present climate continues. A lot of sidewise movement with substantial volatility would seem to be a more likely scenario. But I would be interested to know what you (and other members of the thread) are using as working hypotheses for the next couple of months?
Regards, Carl |
