... because the World has now become extremely unstable. For awhile, the market climbed a wall of worry but when humans started behaving like chickens with no heads, reality took over and now additional growth is quite suspect. One of the news items last week was that Apple Computer has more cash than the US government and that sealed the deal for me. All my long positions have been sold including a substantial portion of my income producing assets and I now believe that we are moving from the initial trading range into a full fledged intermediary (and maybe) long term bear market.
The last week's technical damage to Canadian stock is significant in all sectors.
My next target is now somewhere between 11,700-12000 and I have decided to extend my summer vacation for the next few weeks. I will be back with charts after this vacation
Pierre Brodeur
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