July Or Die!
NOW: Our last WPA (WavePredictor Alert) was titled “Obviously Means Obviously Wrong” as guru Joe Granville often taught. Again, the market has schooled those that failed to study history, and are doomed to repeat it (no offense to George Santayana for linking him to Granville).
We warned our followers as the Dow approached 9000 that mania had returned to the markets. Since we never know in advance how manic a mania will become, we tightened protective stops in our CONSERVATIVE MODEL PORTFOLIO, and were taken out of our most recent “100% long exposure” trade at 8774. Since then, the Dow has fallen 470 points to this mornings low (so far) and we remain safely sidelined in cash or equivalents, awaiting the next high confidence entry. We don’t care if that becomes another long play, or a short play. We only care that it’s highly confident. Continue reading