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Friday August 18, 2017

Quote of the Day

“A wealthy mindset minimizes expenses in self-entertainment and maximizes investments in self-education.” - Orrin Woodward

Richard’s Thoughts on Corrections and the VIX

Richard’s Comments


What are the two most difficult things to do in this business?  Here they are: (1) Buy early in a primary bull market and then ride the bull market all the way to near its completion.  (2) Sell out on a Dow Theory bear signal, and then stay out of the bear market until it's nearly completed.


Why are those two actions so difficult?  They're difficult because a bull market tries in every way to frighten you out of its clutches.  And a bear market tries in every way to draw you back into its grip.  In both situations, both the bull and the bear markets make full use of secondary reactions.