On Monday September 15, the Dow dropped 504 points. Being the contrarian that I am I predicted on this blog at the end of that day that the week would end higher than it started.
On Tuesday it gained 141, on Wednesday it dropped a whopping 449, and then it finished up 410 on Thursday and up 368 on Friday.
While the Dow was down a mere 33 points, the S&P 500 ended up with a net gain of 62 points. The Dow was down a net of .31% and the S&P 500 was UP 5.23%.
I still call this prediction a victory, on par with my prediction in my blog on June 30 that the price of oil would drop to below $100 a barrel in six months. Last week it reached $98 a barrel before the recent rebound.
When big sudden moves are surrounded with fear and greed the contrarian bet is a sound one, even if it is not always correct.