NEW QUARTER BEGINS...WHERE DO WE GO?

Lets put this in perspective. Down about 11% for the quarter and since i've doing this probably the worst quarter i've experienced. But year over year we are up about 10% and that doesn't include 4 distributions which brings year over year total return at over 16%.

So in the scope of things we're still in a pretty good place. We have not broken down here and we certainly have lots of headroom to rally here. The 200 day moving average is at 306.44 and have been trading below it for quite awhile. I know some of you have expressed waiting to move above it before wading back in. Right now we're 11 points below it.

This morning is starting quiet. No news and no upgrades or downgrades. DOW about 120 pts from new all time highs.

Back to a post from a couple of days ago...one poster i think expresses well what is going on. I agree with most of what he says here particularly about the hedge funds. Worth a read...and thank you poster for your thoughts.