Reading ambiguous tea leaves…

Posted on Sep 04, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p20049953156&a=214966864

While waiting for the other boot to drop in Syria the market made every effort to fulfill its mission in life:  Cause the maximum amount of pain to the maximum number of people.  Volatility is the main tool of the market in this mission.  General investors react to volatility by fleeing or refusing to participate.  Thus, later, the market will be able to cause them the pain of having missed the next big wave.  As much pain is caused by the wave missed as the wave caught.  Perhaps more.  As in, DOH!  How stupid could I have been?

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