Waiting for rain (or Godot) …and the 1000th letter…

Posted on Oct 17, 2015 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464

Like a man playing with a cobra we have been watching the market waiting for it to bite us.  This is not our usual posture.  We are never deterred from a trade by the prospect of a small loss.  It probably has something to do with the recent experience of being inside a washing machine.  But now, with squeaky clean hair (and similarly scrubbed mind) we think we can make some sense  of the state of the market.

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