This is exactly the way the mkt traded for the year prior to the bombings in Spain. The S&P anyways will not under any circumstances go do for any reason. Very difficult to get out of it, not worth it. I was taught mkts don't only go up but apprently that was wrong. just my .02
If the S&P only goes up then why is it only up 2.8% for the year? In fact, until this month, S&P was down for the year. There is a time and a place for everything. Keep your eyes and your mind open.
I should have told you I'm an afterhours trader when there is much less movement. Yes there is a time and place for everything but the last two days you coulnd't take out more than a couple ticks on the short before it went straight up. It can be a very frusterating and painfull lesson, just trying to pass along my learning experience that's all. Most likely the mkt will go straight down from here as I look for a good entry point to go long.
Started selling today, as noted in another room When everyone is bullish (as they are), when everyone tells you you're a fool for going short (which they are), when everyone is ALREADY long (which they are).... I know it's time to do the opposite
How do you know what everyone is doing, most people i know are short or want to short. That is why we are going higher, everytime we have a down day people rush out and buy index puts, thus the floor in the market. So i hope you are right, but its been done before.
Interesting ... everyone I know is long, and have been buying since they saw how easily the mkt brushed off the London bombings. I myself started buying heavily the day after the attacks, and have held long since. Today, I have started liquidising, and am building up a (small for now) short position to take into August.....
Great for you. Dont get me wrong, people arent short and holding here and they are buying and long at the same time. its just everyone has been looking for a top for months, but maybe you will be the lucky one to catch it. Good luck! And remember: Keep it positive!
one fo the prognosticators said there was money coming in off the sidelines finally. The dumb money is finally getting in so the end is near thank god.
are you speaking in general ..don't short S&P, NASDAQ I short trade all the time, almost on a daily bases. each sector creates opportunities daily depending on the run. I have no problem exiting my long and taking advantage of a short opportunity. Shorts are a given necessity of the market and obviously as in my longs I have losses in both direction it sounds like a lot of the ET traders only go long