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Market Stance: BEARISH (since September 9, 2016)
* An average of managed accounts, net after all commissions and fees.
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* Buy prices shown are net after commissions and fees.
Today, Monday, September 12, 2016, I bought SPY, for both client and my personal accounts.
Stocks were down in early trading, then staged a bullish reversal.
I am moving most of our cash into SPY, a proxy for the S&P 500.
I am concerned about the risk of underperforming.
The primary risk I am concerned about is the risk of underperforming, of losing more than the market in a falling market, or gaining less than the market in a rising market. In this sense, the sense I care about, SPY is a riskless investment. It does not underperform.
-KD, Monday, September 12, 2016
* Buy prices shown are net after commissions.
** Current prices are at least 20 minutes old.
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