First, a personal note. I am out of town, and my trusty laptop caught a nasty virus despite my many precautions. My email program has been down since Sunday morning, but I hope to have it restored by (hopefully) tonight or sometime tomorrow.
Please be patient if you have emailed me; I will respond as soon as possible…
Second, my blog posts will be shorter than usual due to limited computer access.
The markets started the month of August with a bang by piercing the S&P;’s 200-day moving average of 1,114 and closed at the 1,125 level. I took the opportunity to sell the short component of our hedge, which makes use now net long with a portion of our domestic portfolio.
Our latest international additions performed well, and I am looking to expand in that arena. Overall, today’s positive market attitude seems to stem from the assumption that there is some growth in the economy (according to Bernanke), which is better than no growth at all as had been previously feared.
I’ll keep you posted on my lap top virus trials and tribulations.
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