"I am one of those who do not believe the national debt is a national blessing...it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."
—Andrew Jackson, letter, April 26, 1824
Tuesday, May 12, 2009
Have We Topped?
No guarantees that we have topped for this rally but it sure looks good. Almost as good as it did on April 20th when we fell 40pts on the SPX (only to continue the rally another 100+ points from there). Plenty of support below SPX and above on the VIX (see post below).