Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The last two weeks of action in the stock market have failed to qualify as a recovery from the carry trade related collapse. The rebound of the broad averages has masked underlying weakness and a limited recovery.
The apparent rotation into the Russell 2000 that began in mid-July was a head fake. The Russell merely lagged the decline in the other major indexes that persisted into early August.
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