Karnak speaks, A valentine for the attentive Feb 14 2003
Classicists, of whom there are precious few left, know that the Delphic Oracle sat on a tripod (don't ask) over a hole in the cave, took psychedelics and gave forth wisdom of a particularly obscure sort. Kind of like your present correspondent. Only someone on drugs would possibly try to predict next week in the market. Or, one of the Flying Wallendas. Guilty as charged.
Next week is reaction time--As always you missed the boat by not being aware of the key reversal day in the Qs Thursday. This reaction will not be sufficiently serious for long term trend traders, who presumably are short (or better be if they take this letter seriously) to bail out, but short term shorts should take in their shorts, or they are going to take it in the shorts. The smart ones did it Thursday and Friday.
Next Week in the Markets Feb 24-28
This feature is for subscribers, but will occasionally be made available to casual readers in retrospect.
Next Week in the Markets--Karnak opens his big mouth again
Last week Karnak said it was time for a reaction. A reaction of modest proportions if not a pause did occur.
Next Week in the Markets March 3-7
What does Karnak say this week? Look in the Crystal ball, or subscribe to the This Month's Letters.