Thursday, October 27, 2011
Euphoria
Everything is OK now. Don't ask, just buy. The market was too conservative and too many are underinvested. But after 200 points higher in 3 weeks, the crowd can't resist piling on and overshooting to the upside. I am selling the euphoria today at the open because it is based on good news. If there was no news, there would be no way I would be selling a monster gap up. The shorts are officially extinct after this killer gap up.
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8 comments:
man, that was )*&(^ brutal.
I am selling 1270 here as well.. I prey for us, MO ))
Yes, pray for us shorts. All two of us. :)
The USD (DXY), looks like it is hitting some support..and heading back up, which will send the s&p lower. I am looking for short positions today and tomorrow also.
Nice little reversal on the open. 10 handles is all you'll
get
MO, are you holding? What's your stop? Doesn't look much sell the news. I guess there's more shorts to burn.
Covered on the dip in the morning. Can't overstay the short side on these monster gap up days. Will look to reinitiate shorts near the close.
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