actio-et-reactio
Balance is but a brief transition between extremes.
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Monday, April 08, 2002
Monday Midday comment
Never, never, never underestimate the power of exuberance, never. Another straight up day. And while early this morning CNBC were hand-wringing over the idea that the market tanked on "Mid East worries" - HA. So, those worries get instantly resolved after a latte or two? Not. The fact is, "Mid East worries" have, and have had, nothing to do with the market. Near term that is. Longer term, large societal forces do, IMO, drive markets, which is why long wave study is so fascinating and so often off by a few years (gg).
At any rate, while I did think a bounce was likely, I certainly did not anticipate it would happen all in one day, and not in one day to the upper reaches of the larger Andrews on the 15m and 60m charts. more in a bit
Labels: market-calls-dated
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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