Archive for January, 2016

Scalp starts B wave…

Posted on Jan 22, 2016 by .



As reported we took a successful (and satisfying) small scalp and watched the SPX print what looks like the beginning of a b wave.  These b waves can be profitable and in bull markets are great entry points.  Probably not at present considering the general market situation (bear wave in a box).


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Reversal day?… Could be

Posted on Jan 21, 2016 by .



Early in the morning today (Wednesday) the ratio of down stocks to up stocks was 30-1.  Volume was excessive, as may be seen from the volume bar.  Price was down in the -500 range in the Dow.  As may be seen from today’s bar (long lower shadow) price recovered more than half.  It looked like a climactic reversal day to us.

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Probing for the bottom…

Posted on Jan 11, 2016 by .




weekly bars

We expect, any moment, a bounce from the waterfall wave we have seen for almost two weeks.  Perhaps as early as tomorrow (Tuesday).  The magnitude of the wave is nothing out of the ordinary (7%, m/l), though the daily waves have been somewhat discomfiting.

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Chinese fireworks celebration…

Posted on Jan 07, 2016 by .



Chinese fireworks have ignited a conflagration in our markets.  We have flattened all our posistions, even long term IRA accounts.  95% of our capital was already in cash, as we specified in our May letters.  A fuller analysis follows in good time.

(Our last letter was rife with typos.  A corrected version is on line, but we’ll leave your inbox unmolested.)

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