Sand Spring Advisors LLC

New 52-Week Highs - Yuck!

December 1, 2003

by, Barclay T. Leib

Our previously espoused important triple top was blown away in Monday's trading, with new 52-week highs resulting instead. We will thus promptly sit down and shut up. Maybe we should have done so several months ago.

At this point, 1091.5 on the S&P is the only next upside target that we can spy. Maybe the Dec 5th PEI date will yield this target in lieu of our previously expected panic low. But at this point we are tired of prognosticating, and most folks are probably tired of hearing our prognostications.

Our apologies. Even Fibonacci and Elliott as interpreted by Barclay can get it very wrong upon occasion.

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Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. The opinions expressed are not intended as specific investment advice, and simply represent our personal views offered here under our right of free speech. Sand Spring Advisors is a NFA registered CTA/CPO, but is not a Registered Investment Advisor. We do not directly trade any client funds. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and we will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.

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