What’s it all about Alfie?

Posted on Apr 09, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=6&dy=0&id=p88568909625&a=223624367

http://stockharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p34555890157&a=214966864c

Last Thursday we thought a bear attack on the market imminent and expected it to take place on the weekend when all our readers would be playing golf or polo.  Tipped off, the bears instead attacked on Friday in full daylight.  They drove the market down 172 points, but it didn't spook the market.  Instead buyers rushed in and the market closed down only 41 points.  Is this a sign?  Yes.  When the market can withstand that kind of attack the strength of the wave is reaffirmed.

This is only a preview. You must be a subscriber to access the full text of this letter.


 
Username
Password
 

 
Choose a Username*
   
Email *
   
First Name *
Last Name *
   
 
  * Required

Tags: , ,

Comments

You must be a subscriber to view and submit comments on this post.