Without a hint of a buy signal, weâ€™d be groping at straws. Our best guess at this point is that weâ€™re in a wave 3 down, which should have a wave 4 followed by a wave 5 down to 1270ish? This is pure guesswork at this point and in this environment, using guesswork is just too dangerous. We still have 2 weeks left, and we still think itâ€™s possible to make a recommendation into the first part of next week. So relax- nothingâ€™s at risk for now, and wait for the market to settle a bit. Our only strategy choice right now is a bull put spread.
Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.