Runaway train?

Posted on Nov 03, 2015 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=26ays6398464

25 days.  235 points.  Near 13%.  A spike driven through heart of the zombie bears (some of those profits taken ot of their hides).  Price now solidly in resistance, but resistance not putting up much resistance.  And the flash crash here proven to be trivial and not a major trend change.  (Well, maybe not trivial -- a question we will address at greater length later in the week.)  As we have been saying the last several letters buying is in order and we even added to our UPRO position today.  (Not our favorite trade.)

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