Rimm shot on Oracle. Sound and fury signifying…

Posted on Dec 21, 2011 by in Letters

A 348 point move in the Dow followed by...duh... probably qualifies as an idiot if not Shakespearean move.  Trying to make sense of it from an economic viewpoint would be a waste of time. It was a purely technical move starting a new wave after two eight day waves and an antidote to trader boredom.  We suspect there will be eight days of upwave.  After all the idiots (oops, pundits) are all primed and waiting for the Santa Claus rally.  Since we don't do cycles or analogues we look at these things with a fresh, if jaundiced, eye.  If we were looking for an analogue here it would be trench warfare in World War I.  Nonetheless long is still the way to be as indicated by the Basing Point stop at 1131.

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