Global Sell Off

An email was sent to Ed Seykota:

Dear Ed, the “Global sell off” [is] all over my newspaper these last few days. I am right in asserting the following *the long-term trend is up* until I know otherwise (i.e. an extended period of downwards trading) this still remains true.

Ed Responded:

There is no such thing as the trend. Some of the shorter indicators are down while some of the longer ones are still up. At some point in the non-existing future, we might look back into the non-existing past (now) and notice the exact numerical values of all the various trends that we cannot now measure.

All markets trend. This writer assumes Seykota will know which market he is speaking of.