Buy signals.

Posted on Jan 24, 2011 by WHC Bassetti in Letters

108 points in the Dow. And power bars all over the place. We will be adding on to our positions shortly. There is absolutely no sign of a downwave or retracement at this point, and that is sort of surprising. But, after all the last wave was 53 days long. Of course that was following by a bit of pain. But the wisdom of gritting teeth and bearing the pain has been amply illustrated. We note with amusement (and have over the last month) the predictors and forecasters who have been shorting and forecasting a wipe out. Ourselves, we would never predict or forecast because that is the way to get egg on your face.

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