Gamma wave –or Alpha wave???

Readers might think we are in the gamma wave from our immediate past comments. That could be a bad mistake.  Note that the market is resting right on a trendline from February and is solidly  under the 50 and 200 day moving averages. At the moment we are of the opinion that this is not the gamma wave, but the contiuation of the alpha wave.  That is an extremely serious statement.  To avoid predicting the future we will avoid embarrassing forecasts, but it is clearly true that the market has taken a serious wound.  In the recent past we have spoken of means of protecting the portfolio — buying the VIX, buying a put, going flat the market, buying a  bear ETF– or grinning and bearing it. Remember it is always possible to reenter the market when conditions are right, but the market will not pay you back for your losses.

Exxcept for a small gold position we have no capital in the market.  Remember the first rule of trends:  The present trend tends to continue.

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    why am I getting 2 emails?

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