Heffalumps and Woozles
are very confuzle
- Winnie the Pooh
Why Winnie the Pooh? The song starts with:
They're black they're brown they're up their down
They're in they're out they're all about
They're far they're near they're gone they're here
They're quick and slick and insincere
Beware Beware Be a very wary bear
You can substitute "wary bull" if you like. The point is that from a technical point of view, the evidence looks like these lyrics. Its a breakout then its a breakdown. Volume does not matter then it does. Trendlines do not matter. And no news affects the markets like we think it should.
For you youngsters without kids and no recollection of Winnie and friends, how about a tune from portfolio manager Katie Perry?
'Cause you're hot and you're cold
You're yes and you're no
You're in and you're out
You're up and you're down
You're wrong when it's right
You're black and it's white
We fight, we break up
We hug, we make up
(sung) I bought a stock and I liked it. Hope my co-manager don't mind it.