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Form flows away from the public.

Posted on Apr 03, 2009 by WHC Bassetti.

Form Flows Away From The Public

Robert Bacon, in Secrets of Professional Turf Betting, stated one of the eternal truths of the market, and of any closed universe betting casino. Form flows away from the public, he said.

The score: -5523 to +3928

Posted on Jan 09, 2009 by WHC Bassetti.

The score as of January 2009: -5523 to +3928

Buy and holders, and investors in feckless mutual funds and indices are down 5523 points from the top. Or, -39%.

edwards-magee.com went short the market in January 2008 at 12603. Score +3928 or 31%

Apocalypse soon? The S&P at the tipping point

Posted on Nov 18, 2008 by WHC Bassetti.

Noodling about the S&P and where it might go from here.

A short time ago we stirred up one of the lists we belong to by commenting that the SPX might go to minus 4. We had to post a follow up to assure them that we were joking. Of course everybody hates a jester when times are like they are. Grim. In general. Here is the chart we showed them:

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In the wreckage of the carnage. Buy? Sell? Put head in sand?

Posted on Oct 18, 2008 by WHC Bassetti.

Is this the end of the beginning? The beginning of the middle? The end of the end? The middle of the end? No one knows.

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Trouble and strife. Catch a falling knife? Not on your life.

Posted on Oct 08, 2008 by WHC Bassetti.

Hundreds, if not thousands –perhaps even millions– of traders, investors and technicians are waiting eagerly on the sidelines like the boomer sooners of the Oklahoma land rush hoping to catch the bottom of the panic. This is known in the trade as catching the falling knife. It is not a recommended strategy (what is the difference between a tactic and a strategy? as John McCain would say).