The Fred Report - Mid Week Update August 3, 2011

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Tuesday’s action has broken major support on most indexes, and caused a good bit of consternation amongst our clients and in the technical community as a whole.  We reiterate that gold and the commodities area is still our favorite investment overall.  While TLT could move higher, we see risk of a sharp reversal. We would begin the process of lightening up, and raise stops on the rest of positions.

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