The Industrial Average finished on the high of the day, at 16839, having completed a very precise 0.618 retracement of the steep decline that occurred between late July and August 8. I said we’d try to get short there if and when that Fibonacci level was reached, and so we did.  The trade is detailed in my DIA update elsewhere in the Touts section. Suffice it to say, the very tight stop-loss I advised has not left much room for error. Nor should we, since we don’t pretend to have a crystal ball, nor can anyone predict with certainty that the Dow will not eventually reach 100,000. The apparent cause of the rally was diagnosed brilliantly by David Stockman in an essay titled ‘It’s Jackson Hole, Stupid!‘  This think-piece should be a must-read for investors, since it explains the herd mentality right now as well as anything I’ve come across.