Fear and uncertainty… markets for traders and squirrels

Posted on Jun 12, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p88150915824&a=214966864

Squirrels (and traders) are running about frantically trying to figure out when the next Fed boot will drop.  Cassandras and the guy with the end of the world as we know it sign are advertising a bear market to rival the 07-08-09 bear.  But, as Rudyard Kipling said, if you keep your head when all about you are losing theirs...  The way to keep your head is to analyze the chart.  Above, the big picture -- so messy that only a mother could love it, but it shows where prices would have to penetrate to change the trend -- a long way.

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