Making sense of spaghetti — if not a meal… tangled Dow, messy SPX

Posted on Dec 04, 2010 by in Letters

You could easily have got pasta sauce all over yourself in the last 8 or 9 months -- it's been that kind of market chaos.  Does it make any sense?  Or does it mean anything?  Mean?  What does mean mean?  Well yes amazingly it does "mean" something technically.  It means that after fireworks and rocket attacks since March 09 that the market had to inspire fear and loathing and sometimes outright terror into the undeserving to get them out of the market -- or keep them out.  So of course they (this is the weak "they" as opposed to the strong "they" of market manipulation fame -- or herd as opposed to herders)  headed for tall timber and bond funds.  Of course they'll get slaughtered there too, but it looked safe at the time.

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