You are absolutely correct. I was fighting a trend that I shouldn't have been engaging in reverse, even though my experience was telling me all along that the trade was wrong. After all, I wanted to really go short. What's the matter with me??
Hi Eddie, For sure you are right. But remember that the thieves know what you know and the US govt gave the president the power to buy and support the market any time he wants to - no limit and taxpayers money. (no not POMO but a little talked about bill). So just remember the thieves will be doing: "run them now? run them now? - no not yet wait til you see the whites of their eyes." Once most of the public has decided to go short -- then they'll shoot. Be ready for a sneak attack. You've bag a 44 pt winner - so that is fuel to fight them once they do a surprise counter and it tops out. (1279??) They, the big bozy, have the money to steal and they don't want the public on the short wagon with them. They will shake the wagon so just be ready for a surprise counter-attack. The bull is dead and you are right about looking for another time to short. Just remember the enemy is clever and devious and knows you better than you know yourself. once again - well done today!
unless we are in dire straights,when all of these get below 30,they say there is no one left to sell....http://www2.barchart.com/stocks/momentum.php
Damn, missed that short just then from 1200 area. That had to be a sell and I missed it. A rally like that had to be sold whilst we're in 'crash mode'. Hopefully it'll give me another chance to short it later on.