Tides and waves…

Posted on Mar 20, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p43940581799&a=214966864

As certainly as there is a high tide, there will be a low tide.  As certainly as equity peaks it will experience lows.  Waves ebb and flow.  The higher the wave the more powerful the outflow.  We will all remember the films of the East Asian tsunamis  -- with the huge wave crashing in, and then the sucking outflow carrying houses cars trees -- anything not secured.

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