Good Wednesday morning. Strong recovery day yesterday, led by the semis and nasdaq, as we continue to witness a textbook definition of a “wall of worry” which as we’ve learned all too well over the years, bull markets love to climb.

We remain aggressively long the market, even as we paused our buying of broad market positions last week (while continuing to add to our VRA 10-baggers as part of our monthly dollar cost averaging program). 

With 10/12 VRA System screens remaining bullish, and with the markets working off their extreme overbought readings, we continue to see this as a textbook bull market pause. Slowly but surely we are working off our overbought conditions and as you read in recent Letters, our reading of the tea leaves points to a rally into the election (a contrarian view). 

Falcon Oil & Gas (FOLGF)

On 10/29 (votes must be in by 10/24) Falcon shareholders will determine the outcome of two matters the company has put up for vote: a 250:1 reverse split and ...