Both bulls and bears have valid points. It can drive anyone crazy. I tend to lean more to the bearish side, but the market doesnt care, it will do what it wants, which may be irrational. If you are not afraid of missing out on oppurtunities, its better to just be all cash and see what happens in the next few days.
You are probably right man and in the near term like next week, it's logical that the DOW will rebound. There is not enough fear and uncertainty to keep going down methodically. I will be picking my stop Monday and try and make a bit off a bounce. I think the DOW will recover 1/4 of the losses from last week. I may be kicking myself for not buying at 3:59 on Friday and selling into the spike Monday if it happens.
Well said. I think I'll go all cash and realize some more losses on my options heading into Monday morning then cut sizes when trading.
Who says there is nothing worth reading on the ET forums? Nice post. Thanks. I don't necessarily agree with your conclusions, but i like your facts. There are other interpretations.
"you are not afraid of missing out on oppurtunities, its better to just be all cash " um, no not as a trader it's better to make high expectancy trades - long or short. that's ALWAYS the case.
I saw that, and I just think it means Asia and Europe are now ignoring the US stock markets - we just don't have much of an influence on them, and may continue to move in opposite directions.