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Cash is King

Posted By Barry Ritholtz On April 7, 2005 @ 9:55 am In Investing,Markets | Comments Disabled

I meant to post this last night (it went up at RM [1]) but Man, this market cannot hold a bid, can it?

I’ve been watching the breadth and the volume, thinking that a rally on
decreasing A/D along with weak volume would make for a good fake. But we’re not
even getting that. It must be tough to be long after enough of these mediocre days –
they just wear you down.

On a personal note, on Wednesday Missus Big Picture and I moved our personal
retirement accounts into money market funds (2.7% — woo hoo!).

If nothing else, I eat my own dog food…

>

UPDATE:  April 7, 2005 10:05am

To clarify, the retirement accounts are all mutual funds; I am still long a few trading stocks that have not given sell signals. My longs are primarily energy stocks, plus a few micro and small caps,  primarily involved in IP, as well as shares from the company I am on the BoD. Oh, and some company involved in this newfangled doohickey called an iPod.


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[1] RM: http://www.thestreet.com/p/_rms/dps/cc/20050406/columnistconversation1.html#entryId10216409

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