Getting Encouragement from Rejection

I have so far received four out of ten possible replies from my first wave of query letter send-outs. They have all turned me down. For varied reasons. Not taking on new clients, not interested, etc. etc. I can either take it personally and get all mopey or I can look at it as at least I am getting replies, at least they are reading the letter. I think I am going with the latter. I have sent out MANY MANY letters in the last year and I've never received so many replies from a single mailing before. So if they are reading them then I feel like its not a waste of time and money. Right? Right?