Jim Rohrbach writes:
This last week has been about as wild as I have ever seen. The market gave us very solid Sell Signals and then it gave us a couple of strong up days. I don’t know what caused the up days. I read that it had something to do with the European actions to reduce debt, but we have been hearing this stuff for over a year now. I listen to Larry Kudlow some times and last night he said he is about to give up on trying to figure out what is going on in Europe. I gave up on trying to figure out the debt crisis. I listen to the RIX [his trend indicator], but I must admit that the wild swings in the RIX are very frustrating. But I will play every Buy and Sell Signal knowing that the market will resolve this whipsaw phase and give us either a major up move or a major decline. I really don’t care which way it goes, as long as the market has a sustained move.