I thought 90% of the people on ET were bullish anyway. Till yesterday, any one who mentioned the word "shorting" got flamed by several ET'ers and their mulitple aliases -Fast
Fast, I don't think it was the fact that they were shorting but the lack of any sound reason for their decision in their post. The better traders here wait for the market to show them that it is turning rather than just saying "this is the top" with no basis. Anyone can luck out on an event crash. BTW, although the market is over due for a few days of sell off, the Fed has just actually given the market what it wanted to hear - Confirmation that the economy and jobs are improving or are about to impove for the latter. And, historically, the market continues to advance for several months after the Fed starts tightening. It's not until the Fed cranks rates tight to slow a run away economy that we see the market become extremely vulnerable.
Yep, long YM from 10430, will swing it overnight. This was overdone, imho, that's what I'm betting on at least.
pspr, are you suggesting that i'm not one of the better traders on here? not offense if you are, i'm just joking around. i'm probably not anyway. best, Neal.
What? There are at least 2 threads A WEEK with top calling and shorts being established. In those threads, half the posters support the call and the other half are against it. The polls seem to show more of a split decision. Bottom line, if you think you are one of the few super traders short, think again. Many many many traders of all kinds have been shorting this market for months. In fact, these traders get so desperate that they try to even push prices down with absurd sell orders. I'm not leaning toward either side but I just do not understand how all these shorts plan to cover their positions.
Ha ha ha ha. I don't know if you are or not! I do know that I'm not! I seem to usually have a good handle on where we are going in the longer term but my daytrading ability is sorely lacking at present.
Definitely something wrong in your interpretation. Adding on to a winning position is not CHASING. It's a way to size up winners...