Does this not adequately describe what just took place?
Like WWII, while the occupants of Hong Kong looked to a sea-borne invasion, the invaders came by land. And took the colony.
Was someone looking for a capitulation style bottom? What they got instead was a market that was indifferent to almost ALL classes of assets. Was it not more comfortable to clutch rabid skunks to your bosom, than to buy common stocks ?
So no blog or DGS Letter reader was surprised to see this rally. Further, no reader who followed a prudent course of ACQUISITION at SUPPORT Levels, protected by trailing stop, suffered inordinately, and yet still was positioned to participate in this rally. They no doubt are participating in this rally yet.
And of course, our nemisis, the TALKING HEADS were DEAD WRONG, as ALWAYS at Market TURNS. They were TOTAL BEARS on MARCH 6th & 9th, God Love Them ! ! !
I hope you guys are enoying your profits now and moving your trail stops up gently behind them.
In my next post I am going to cover some of the ISSUES I have been following.
Good Luck All,