Aug

4

Dear Dr Niederhoffer,

I refer to your article "A Shocking Concatenation" :

Yesterday's action was unusual in that it was a big up opening, but down consistently from the opening. I find that such a condition has never occurred before, although it all seems quite reasonable and de rigeur. What other seemingly normal things hardly ever happen, thereby violating the random walk?

This is an unusual and rare condition indeed, and seems to be occurring today again. Last time it marked a pronounced cycle change with a low being made the following day. I remember writing a little on the possible change of cycle, to which you agreed however also pointed out that one sparrow does not make a spring. Perhaps today is another example of such a cycle change — in any case I thought I'd highlight this for you as it is such a rare occurrence (perhaps only the third time in ten years) and we are in need of more statistics on such a condition.

Also, perhaps the fall in Euro today is the beginning of a LoBagola move back through the highs at 1.45 and 1.5…

Kind regards,

Tom Blackwood

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