Bear baiting and naked mud wrestling…

Posted on Dec 16, 2012 by in Letters

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=5&mn=0&dy=0&id=p54002857514&a=234104255

Sometimes we are amazed at what the analytical community (and talking heads, and nattering nabobs and beauty commentators) misses -- as in this picture which shows prices bouncing off the most important trendline on the chart.  From that critical moment in 2009 when the parachute blossomed and the market stopped its freefall.  This is, of course, a numinous line.  Break it under the right circumstances and wake the bear -- a veritable grizzly.

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