So who shorted it the last 2 days? (Raises hand) A roller coaster ride is always the most fun on the way down. I'll never understand long only players.
I think that's the attitude the hedge funds that played GME had. There is no limit to how much you can lose with a short. At least with a long you only lose what you invest.
I considered short Nasdaq but the long Canadian commodity stock trade has been far more profitable and reliable this month.
Perfect if you're shorting the market. I play individual stocks so I'll just sit in cash until something comes along. So far my stocks are holding up not bad.(Canadian Market: Financials & Energy) only 16% in cash.
Ken had tunnel vision; today was not a good day to be trading most of those etfs. If you took the day off until 3:15 pm there was a trade there maybe but pretty random to anticipate that move. Gold stocks were a much better day trade today nice steady up trend all day.
Option expiry this week. Very likely that Oil stocks peak short term tomorrow, drop Friday, rebound Monday. Overall markets would normally be weak this Friday but that didn't hold up much last month. The tricky part might be IT; I'm not sure if the short side is overdone enough to reverse the option expiry direction this month ( ie if ppl loaded up on puts the market makers would want stocks to rise ). I'll likely free up significant cash Thursday, lowering my risk for Friday and give me some flexibility if anything oversells. I may consider some short etfs late Thursday, WTI price of course could change things but the stocks are lagging WTI in theory at the moment. Gold/Silver/Copper kind of at an inflection point occasionally Gold does it's own thing on option expiry.
I'm more a swing trader. Would like to consider myself a position trader. Any stock that trends up I'll pyramid into. That said everything I own is starting to roll over. Stops are in place.