Foolshorses is possibly calling that the correction from the Oct 07 top to Jan 08 low is 3 waves of a 5 wave down move & that we are currently at the 4th wave peak with a fall to come to a 5th wave bottom around the Jan 07 bottom. It's a valid point of view, but just as valid is the view that Oct 07 to Jan 08 was a 3 wave correction & we are currently on the 1st wave of a 5 wave up push.
Time will tell, but fundamentals seem to favour the later interpretation more.
time to short hard, page-22
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