I'd like to take this opportunity to thank Charles Dow for creating P&F and Tom Dorsey for bringing this methodology to our attention. Really, what a wonderful concept! Big kisses to both of those guys!
It is days like today (and yesterday) that I remember how in the dark I used to be. A day like this would have me bitting my lip while watching CNBC and not understanding why the market was going down. I'd be panicking, calling my Dad for comfort only to find him in a panic as well. Now as a comparison, he called me this morning at 6am "Babe! Your indicators are working!!!" He doesn't have all the terms right but the gist is there and the point is he isn't panicking anymore either.
Luckily for us, the indicators (I guess Dads terms weren't that off, props to Dad) had us well prepared.
This is in no way a crash (not at this writing) but enough issues have dropped considerable amount of points lately and portfolio's are loosing value quickly.
We were first put on alert back in March, I believe, with the 10 week and then finally the NYSEBP told us there were rough roads ahead in April. If you didn't believe any of that, you could have watched the sectors turning one by one. Actually, we listed many warning signs. I hope that we did a good job listing them and describing the risk.
One thing I've learned, trust those indicators - don't second guess.
Lets see where this takes us, what the sectors look like afterwards. This may not be it, we are only talking about another 80 points right now. We could have more shaky days ahead!
Hope everyone is doing well...
Jan I am |
