Been short the last three days, Shorted the last 5 minuets into close on Mon & Tues carrying over nights. Today's Rally was a gift. I shorted so heavy that my heart started beating 10000 miles a minuet during the 100 plus rall, As i shorted and shorted and shorted in to the Fed Spike.. This is the most risk I have taken since 2000. Back in 2000 it was OPP, schonfelds money. This time, its all my own.....:eek: let the dice roll as odds are in my favor after todays, close. There are zero reasons to get long this market at the moment. however, Tomorrow could prove me wrong and force me out with a nice loss if the market has a rally of 100 plus. Average in was a gift this week. Hopefully the PPT is out of amo for a few days. These are the days Livingston Lived for
Me! I always have some longs. And I'm up over 22% ytd on mostly long trades. How is that possible in a mostly down market this year? It's called TRADING!
I have opened and closed many positions in the last 2 days, the only way to stay ahead of this market is to either daytrade it extremely well or swing trade. Too hard to hold onto anything in these volatile markets, especially those proshares. I'm getting 5-10 dollar moves in some of these ETFS. Its great when you are able to grab the right side of the trade of course, if it moves against me I will hold it until it comes back which most of the time it does, and in most cases only days to 1-2 weeks.
holding until it comes back is a very dangerous startegy. i'm glad it has worked thus far but beware,that style contributes to more traders becoming ex-traders than almost any other style.