The above is our Baseline Portfolio. It is on the way down again. In the Spring of 2009 we saw the largest drop after the current Administration took office and we see the same thing happening again.
The following Figure depicts the per day changes.
The negative swings in early 2009 are starting again. There was a long period of quiet consistent growth but now we see dips which are close to those of early 2009. Given the Euro problems and the fact that unemployment has increased again, we anticipate further negative volatility. This will place great pressure on the downside and may very well extend through the summer till fall.
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