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.
So that is the question here –are you willling to take 1% daily volatility? Whenever tempted to jump in to volatile situations we remind ourselves that there is always a tomorrow and the market will be there –not necesary to bag the lowest price. Individual decisions by the person whos knows you best: You.