Archive | December, 2011

Hedge Funds: The New Dumb Money

Much of the fury in yesterday’s nearly 500 point “melt up” in the Dow was generated by hedge funds panicking to cover shorts. Convinced of the imminent collapse of Europe, the impotence of governments, and the death spiral in sovereign bonds, many managers were running a maximum short position at the Monday opening, and for […]

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December 2, 2011 – Quote of the Day

“Don’t get greedy. Don’t expect much. This is a single and double type of market. You’ve got to play it this way,” said Jeffrey Kleintop, a market strategist at LPL Financial.

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