Restoration of order..maybe…

Posted on Apr 24, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p53507150799&a=214966864

Frightened by the proximity of the trendline prices rebounded -- even with fake tweets bombing the market for 4 minutes.  WE now have three days of strong rebound.  The pattern is somewhat difficult to understand.  It might be an Alpha-beta-gamma (http://www.edwards-magee.com/?p=3776  http://www.edwards-magee.com/?p=3803)  (Previous letters explaining Alpha-beta... pattern.)  On the assumption it might be we lifted part of our hedge.   Readers who sat patiently and watched the squirrels wound up winning the nuts --assuming we take out the last high.

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