Riding the waves…

Posted on Aug 05, 2009 by WHC Bassetti in Letters

Will Goldman ever get tired of this game? If they do, watch out. Here's what the wave analysis says: Since the March bottom there was a wave up which lasted 45 days, ending 5/8/09. In that powerful wave there were 16 down days. This was followed by basically a sidewave of 45 days. On 7/8/09 the present wave started and is now 21 days long and there have only been 3 down days. During the first of these waves there was healthy profit taking and trading accounting for the down days. The present wave up has the look of investors chasing the train that has already left the station. (Don't try to reproduce this analysis at home without professional supervision -- it's a gross cut at it with differing views possible of the sidewave.)

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