Cacaphony of the commentators, calm of the chart

Posted on Feb 22, 2013 by in Letters


As opposed to the market which has been dozing peacefully for two or three weeks, the commentariat (especially at marketwatch) has been baying at the moon like bloodhounds on a scent.  Howling for reasons that the crash will begin any day, that if not a crash, a "correction".  In this context it is worth reminding readers that over the past month of so we have ventured based on our back of the envelope technical tools that 1525 was a feasible target for prices.  In fact that has happened.  In fact we don't feel like that is the best picture of the past weeks --that picture is the Dow.

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