First rule of seven target hit.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 We remarked, when the new high stop was tripped, some days ago, that scaling in to a hedge was not a bad idea.  That was a good idea.  The…

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More targets…more targets than a pincushion…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 As we have previously noted, the forrmation from early September to late October has a toppy aspect.   We measured the depth and came up with 77 points, subtracted from…

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Analyzing the downwave…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864 300 point days in the Dow are no fun (unless you're short) and it helps (somewhat) to have some idea of what the damage can be.  Naturally as we…

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The rest of the hurricane…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864 We barely realized the ominous portent of our last letter, titled "The eye of the hurricane".   We were troubled  by the pattern but speculated that the stutter step might…

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