Top Advisors Corner

W.H.C. Bassetti: Still damned if you do, damned...

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http://schrts.co/tXAfNmEr

As we wrote last week, we dipped a tiny toe into the market while repeating our mantra: if this doesn't work we'll run for it. Well, we ran for it.

This in spite of technical tools which point to higher prices. If we ran a rule-of-seven analysis (http://www.edwards-magee.com/ggu/ruleofseven.pdf) on this wave, we would get target prices of  2921 and 3112.

Not only that, but the P&F analysis has a target of 2809. These may very well be accurate - it's just that we didn't want to get seasick from volatility.

W.H.C. Bassetti
Edwards-Magee.com

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