I think we fluctuate, 1930 might be on the low side, when I wrote the post I thought the lower part of the range (1865) would be reached with a possible spike to 1850 (thus the 1850 to 1930 range). With this week's data now in I would modify that to the 1865 to 1950 (in both cases I allow for possible spikes either up ot down of about 15, thus the main range is really 1880 to 1935, a narrow meandering range. If that happens the last week in December could be explosive on the upside, as well as January. The 16% cash reflects my position that we are very close to the bottom of that ange (at one time today, when we had an excursion under 1880, my cash position was essentially nil, as I always say, I planned the play and plaid the plan, this time, so far, the plan was pretty good).
