Congratulations!

You’ve just made a great investment! A signed copy of a limited edition of ‘The Guerrilla Trader,’ the stock market letter that’s right more often than it’s wrong, and… which features ‘Duckbraith,’ the comic strip about the market. A friend of mine recently said ‘Humour is intelligence.’ I like the sound of that, and hope it applies here.

OK. We were wrong. Once. In 1989. Curiously enough, however, the issue I wrote then, on October 21st, 1989, could not be more timely if I’d written it today to interpret one of the most compelling formations I’ve ever seen in the Dow Jones Industrials. That issue was comprised of two parts and I’ve decided to reproduce the first part of it here, pretty much verbatim, and then discuss it in some detail. Remember, the words below could have been written yesterday. First, however…

October 21, 1989

Well, here we still are, sitting in the giant washing machine we call the market, spinning ‘round and ‘round with all the other laundry.

While we are all sitting in the wash speculating on whether we’re in the ‘wash, rinse or spin’ part of the cycle, I thought we could use some entertainment. It’s based on some outlandish speculations on the stock market triggered by
something I noticed in a soggy copy of Barron’s newspaper for Oct. 16/1989, the Recovery Day from the Friday, October 13th ‘mini-crash.’

Topics today include a skill-testing game on pattern recognition, and some brief lessons on what it means to focus your camera. (Editor’s note: The photography lessons will be in upcoming issues.)