|
Daedalus, Icarus father, had built a prison, the Labyrinth, under the orders of King Minos in order to hold the Minotaur. The Minotaur, who had the head of a bull and the body of a man, fed on humans in the Labyrinth. When King Theseus came to destroy the Minotaur, he sought the assistance of King Minos daughter. She in turn sought the counsel of Daedalus. With this advice, Theseus was able to slay the Minotaur. King Minos was so angry with Daedalus, that he imprisoned him and his son Icarus in the Labyrinth. As a method of escape, Daedalus, constructed wings from feathers and wax for he and his son to be able to fly away to safety. He warned Icarus not to fly too low lest his wings touch the sea and get wet, and not to fly too high lest the sun melt the wax. However, Icarus, overwhelmed by the thrill of flying, did not heed his fathers warning and flew too close to the sun whereupon the wax in his winds melted and he fell into the sea. The Dow Transport's trajectory looks like Icarus' flight path. Will the index continue to the "sun", or has the "wax" in its wings begun to melt?
The long-term direction becomes clearer and clearer; we can only continue to read, observe, and warn investors as we wait for the "flight of Icarus" to end. Don't allow your emotions to override the logic of the data. Have a great weekend. Doug Wakefield
CONTACT
INFORMATION Best Minds, Inc is a registered investment advisor that looks to the best minds in the world of finance and economics to seek a direction for our clients. To be a true advocate to our clients, we have found it necessary to go well beyond the norms in financial planning today. We are avid readers. In our study of the markets, we research general history, financial and economic history, fundamental and technical analysis, and mass and individual psychology. The opinions of FSU contributors do not necessarily reflect those of Financial Sense. |
