If this looks like Niagra Falls it is because it is like Niagra Falls. We have been warning since October of the severity of this downwave and long ago took 99.9% of our personal capital to the sidelines. Hopefully our readers have done the same. If not, infinite pain. Sometimes investors are reluctant to bail out because they “don’t want to lose their position”. (or they believe in Mallkiel.) Well if your position is bleeding like a stuck pig why is it so attractive? And. You can always get back in and probably at a better price.
And. Here is somethig else to think about. What if this formation since February is a massive double top to the entire bull market (since Mar 09)?
The implications are cataclysmic. And please note: the long term Basing Point stop is violated. We never rail at our readers. But this time our hair is on fire.