The other boot falls…

Posted on Apr 05, 2012 by in Letters

Frequently a volatiility explosion, as we had today in the market, is the signal for an abrupt change of trend.  And this could very well be the beginning of a new downwave.  The likelihood of its being a major trend change is in our opinion virtually non-existant.  There may be a sharp and moderately painful downwave here but the likelihood of a major change is extremely remote.

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