It seems to be important to some that I say I was wrong in my call for a Cliff Dive last Thursday night. OK, I was wrong. I believed it was imminent. As it has turned out It was not. Today is Wednesday and we are set to open higher by maybe 10 points. This will mean we have gained some 30 points since I made the call. This, I know, is inexcusable and points to a total lack of ability on my part. I hope this satisfies my many critics.
Making calls on the market in this forum puts one at risk and that is why not many do it. I made one last Thursday night because I had to. Thinking, as I did, that a fall was coming I was unable to not share it. I might also add that I know of no one who is held to the same standard that I am. If I kept track of all calls made by posters on this board and then chided each poster for their errors that is all I would get done. I am not whining just stating the facts.
All of that being said I still want to warn everyone that when we fall, whenever that may be, we will drop like a rock. I am waiting for the end of corrective wave (ii) which has now retraced the last leg down between 50% and 61.8% on all major indexes. It is due to end just anytime now and when it does we will go down in a 3 of 3. Wave 3s are vicious and I would not be caught long when one occurs.
