Here’s what you get for playing momentum…



The DJIA plunged 266 points and the S&P 500 closed lower for the eighth straight day. MarketWatch flashed this headline after the close on August 2, 2011…

Esteemed market analysts Ned Davis made a bold statement about an hour before the close…

Even at 2:55 PM, Mr. Davis was hedging his words telling MarketWatch that if the market didn’t recover by 4 PM he’d have to go from Bullish to Neutral. I wonder what it would take for him to get Bearish and what dry powder he might have left after remaining bullish until this afternoon’s collapse.
Eleven American states earned more revenue from lottery ticket sales than from corporate income taxes in 2009.

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US sales of all lottery tickets were north of $50 billion that year- the latest for which full data is now available.
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