Market going parabolic…

Posted on Dec 01, 2017 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

Readers should be accutely aware that the market is going parabolic.  Where we were buying days ago, we now think the danger of a violent collapse is present.  In fact we put on a small hedge with SPXU (just a toe) and pruned some accounts (of UPRO).  We know of no parabolic markets which have not ended in collapse.  And, just looking at the chart we expect  that  the move is not finished.  It may have something to do with the so-called tax scam bill in Congress.  Time to be very careful.  The collapse of the parabola (we suspect) will not reach  past  the top two horizontal lines.  Get your buying plans and capital together.  A huge bull markete is waiting on the other side of this.

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