Journal commentary this week:
In bear country the response to an attack depends on knowing what the bears planned outcome is. If it is to defend its cub, you play dead, if it is to eat, you'd better run or fight.
Six months has passed, like the blink of an eye. It seems like only yesterday that we first watched in curiosity what at the time was being reported by CNBC, as a small single engine aircraft that had somehow managed to crash into the World Trade Center. How odd that we went on with business as usual that morning, getting computers going, kids to school, dogs fed....The reporting on the television became more intense as smoke poured out of the gapping hole, but still, it was an accident. When the second crashed occurred I was standing in front of the screen, rubbernecking between morning duties. A simultaneous chill ran down the one fused spine of everyone across the country, we all knew........... terrorism.
Regardless of what the government response was to be, the first Americans fighting back did their heroic work in the sky above Pennsylvania. The difference was, they knew their enemies planned outcome, and knew the response.
Six months later, in a few short hours, I'll be back to my morning duties, but not the same......
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Be cautious this week, we may be approaching a top.
Sam
Sam@savvy-trader.com
Starting out this week the SSRatio is at +4.74 the highest it has been since the first of January. So where does the market tend to go when the ratio is this high?......uh oh. The spikes above 4 have been followed by a sharp correction, so keep your eye on it to turn down a day or two, and we'll be close to a local high. |
