Reversal

I’m interpreting the spike down last week and the strong rebound in the past few days as bullish. See the chart below from Friday’s close (courtesy of our friends at Merrill).

We have held our positions in our model portfolios, neither panicking during the deluge nor trying to catch the bottom of this short-term move. Remember that much of what happens hour-to-hour, day-to-day, week-to-week, even year-to-year, has (or should have) little practical impact on long-term investors. Let’s make sure we have the cash to pay the bills and cover reasonable contingencies; after that, we can be largely indifferent to the spasms of the markets.

• 30 Nov, 2015

  O Pais do Futuro

  Charles de Gaulle (photoÂbelow)"imperious, disdainful, utterly French (and venerated for it in ...

• 15 Apr, 2020

  Whats Down With Oil?

  I have always found that most things in life can be explained by basic economics. Well, some things, for sure. The most ...

• 13 Jul, 2015

  Wild, Wild East

  The central planners in Beijing have gotten so much right for the past three decades, that they might be forgiven for ...