Market keeps spanking the bears, even while they're asleep. The hard core shorts must be masochists to endure this kind of beating over and over again for the past 8 months. Well, I used to be one of those hard core shorts. But I've adapted after being conditioned to sell rallies from fall 2007 to spring 2009. I am still bearish, but shorting when the market is at 1300-1400 is different than shorting it when its at 1070. Thanks to the jobs report, I was able to avoid some pitfalls on the short side as its a good practice to avoid shorting after such anticipated bad news. I have shorted small into this big gap up here. Shorting big gap ups when there is no news is kind of dangerous. I would much rather be shorting a gap up after good earnings or good economic data.
Monday, November 9, 2009
Squeezing Sleeping Bears
Market keeps spanking the bears, even while they're asleep. The hard core shorts must be masochists to endure this kind of beating over and over again for the past 8 months. Well, I used to be one of those hard core shorts. But I've adapted after being conditioned to sell rallies from fall 2007 to spring 2009. I am still bearish, but shorting when the market is at 1300-1400 is different than shorting it when its at 1070. Thanks to the jobs report, I was able to avoid some pitfalls on the short side as its a good practice to avoid shorting after such anticipated bad news. I have shorted small into this big gap up here. Shorting big gap ups when there is no news is kind of dangerous. I would much rather be shorting a gap up after good earnings or good economic data.
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