Dow delays its big move down

The Dow Jones bounced higher than expected on Friday. So has John C Burford changed his stance, or is he still looking to short the Dow?

If you've been reading MoneyWeek Trader for a while, you'll know I've been bearish on stocks.

And given that markets have generally worked higher over the past couple of months, several readers have been questioning my stance. I also note from comments on my articles that some traders have a different interpretation of the Elliott waves than mine.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.