Pomp, mae culpa, you are absolutely right, my turnips actually were calling for a rally just pre and post elections and then a mild decline into the first or second week in December, and were keeping the type of decline we got here for January and February next year (I had 2500 for the Feb/March low and 1900 for the second shoe in Autumn). I think that a combination of exogenous elements, like the uncertain election, as well as acceleration beyond the turnips original time table of the economic slowdown. Hey, the turnips at least had the right "direction" and kept me out of harm way, even if they did not have the specifics to a "t". They still have another lower low here around Dec 11/12, then a week or so rally into Christmas and a post Christmas decline to just few days before year end (like another bottom on the 28th or the 29th of December). Then, I have about two weeks of a good rally from that late December secondary low. Right now, I have about 2350 and 2250 or so for these two bottoms. Of course, the turnips reserve the right to be wrong, change their mind, and change it often (g).
Zeev |
