These days it seems markets "crash" to the upside more than the downside. 15 days of losses nearly wiped out in just 2 days.
Don't bother, they are fairly content into shorting uptrends and adding until finally right, because the world is going to end. And when you try to help they get irritated or call you mental.
Sure, when shit hits the fan, markets can crash pretty hard and fast, but in the time I've watched the markets, the up moves can be just as violent and fast. Did anyone remember the bottom after the debt downgrade sell-off? That was a WICKED up move in a very short amount of time.
Yes that was a sick move. Same for the December 2012 fiscal cliff debacle, at least in the volatility mkts. Never before have I seen so much volatility dissappear in such short time. I mean, sure spikes can be violent. But you can just as easily be wiped out quickly to the upside, and since markets increase 70% of the time I'd rather be a permabull than permabear like some
Agreed, this has happened many times. The selloff got no follow through, and 1 quick snap it's back to new high. Many shorts are just waiting to cover at a target below, before they knew it it's back to BE or a loss. It's a bull market.
That appears to have been the philosophy of all of the successful traders that have posted in this thread.