Blind rat in a maze…

Posted on Sep 09, 2013 by in Letters

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

For the past 25 days the market has been like a blind rat in a maze.  It would explore a path and then run nose up against a wall of contrarians enjoying the volatility.  Today, as we look at the Old Faithful chart prices are forming a power bar across the downtrend line -- looking like the zeta wave of the a-b-g-z pattern.  We are lifting our hedge and going naked long.  (We have a towel handy in case it gets uncomfortable.)  Trend following readers should be enjoying the resumption of the trend -- no guarantees of course.

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