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Strebler's Perspective

 

If you don’t spend (waste?) much time on YouTube, you probably haven’t seen the python eating a crocodile video (http://www.youtube.com/watch?v=l56K8eAtCig) It’s amazing that 1) those snakes can overpower a croc, but also 2) that they can actually swallow the things. But they do, and we imagine that overstuffed, sated python won’t do anything but rest for the next few days as it digests its huge meal.

 

I suppose today’s market and yesterday’s winning bears are much like that fat python after the 221 point fall in the Dow Industrials. The bears won Thursday’s battle decisively and thus live to fight another day, but may not do so just yet. And it was just one battle, not the whole war. We don’t yet know if we’re on the verge of a full-fledged Dow Theory bear market, although we now have a clearer idea of what would define such a development, and it does ... Log in or subscribe to continue reading.


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