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TAM's Pedagogics: March 30th, 2011

Mar. 30, 2011 8:22 AM ET
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Seeking Alpha Analyst Since 2011

Kevin A. Tuttle is the CEO and Chief Strategist of the Money Management & Capital Services firm Tesseract Asset Management, LLC (TAM). TAM serves as the General Partner of Long/Short Equity & Alternative Investment Hedge Funds and operates a Capital Services division oriented toward small & medium size companies seeking capital. TAM also owns the registered investment advisory firm TAM Portfolios, LLC (TAMP), which offers Mr. Tuttle’s unparalleled Long Only Growth Portfolio (LOGP) Separately Managed Account (SMA). Over the last 2 decades Kevin has become an industry-recognized technician and has distinguished himself with his signature 100-Year Market Theory and corresponding Dow Chart. His unique quantitative and technical approach to managing assets has lead TAM's growth and success since its inception.
On the Brink of… Market Neutral.   Since late February, as the Broadening Wedge was forming, we’ve been discussing the probability of 1st, a break; and second, a retest. In yesterday’s piece I clamored about how great the risk/reward was for entering short positions. Toward the close, the newly formed resistance line looked as if it could be penetrated. Needless to say, it wasn’t. 
But, what if? If the NDX, and all other sisters, reenter the prior base area (which looks as if will happen as we watch pre-market futures), the market doesn’t go straight back to Bullish. It will fester around to see if the combined short-covering and bull zeal could push the market topside once again. This should allow the formation of a bullish technical pattern to arise. If it does, time to switch side; as for now, still holding the line, but just barely.

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