Buy signals and volatility…

Posted on Nov 11, 2018 by in Letters

We still have questions about the wave state of the market but it's hard to doubt the strength of this wave, whatever it may be from a theoretical point of view.  It is acting like a zeta wave and the gaps look like breakaway and continuation gaps.  Under almost any other circumstances we would buy this enthusiastically.  Here the continuing volatility and the influence of traders mean that owning this is owning some unpleasant volatility.

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