I'm talking about huge intraday moves, you know, the 40-50 handle ones. Many people have this misconception that its safer to be short than long because the down moves tend to sharper (making them more dangerous), read a chart from the late 90s and you clearly see that the large up moves were far more frequently than the sharp down moves. This has nothing to do with tops or bottoms, it has to do with misconceptions of whats "safe". The only skillful traders I know are the profitable ones, does not matter if you are short or long, you have no edge (or skill) if you are consistently losing.
1) Personally I never heard the myth of only down moves are sharp. Maybe that's why I'm still around too make an occasional post! But short selling has NEVER been "safer". In fact, just the opposite because short risk (in theory) is unlimited. 2) A "top" is valid only in some sort of context. For instance, new all time highs were set (again) today. Some people believed(and traded as such) "the" top was in a month ago. Tops and bottoms are valid only within some sort of context. Time is a measurable byproduct of a context, but time itself is not a context. Some financial-astro analysts may disagree however. Trade On!
not complaining here,just an observation, but the more posts that come in against selling into an uptrend,in the past, it's marked the reversal , so even tho the comments were civil, and i appreciate it,working here just like the rest of you, they do bring a little extrra to the table
1. Read this thread, plenty of arguments from people who think its safer to be short. 2. Not sure why you are directing this at me? I wasnt talking about tops or bottoms?
Darn, I missed your call after that spike down, could've made a mint! http://rationalwiki.org/wiki/Outcome_bias