with "The Market", Dewey.

Looking at the cutouts yesterday and the way the Purchase Index is climbing, I think we may be in the midst of the holiday demand surge. The fact that the NNNs are trading in lock-step with the component may be telling us that 'The market" feels that demand will hold enough to support the NNNs at this price level. We both know that that idea can change in a heart-beat.

Best wishes,

dhm