“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Friday 22 February 2013

22 Feb 2013

Our lower low did not pan out.  But the expected rally has, which brings us to the 61.8% level at 1518 on the SPX.  Our trend is still to the downside so until then we are holding our short positions.

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