As a trader never, ever go against the trend.. That being said, if we do go green, it will goto 15000 without a problem. I could just see the headlines over the weekend. But I certainly wouldn't take a position unless we recover.
up 8% of buying power friday, doubled account in one single day. After 50% return over past week up until the day prior. Zero overnight risk. Now tell me, who says that there is no money in shorts. This is exactly the kind of condition and days I referred to in my earlier post. It's back in this thread somewhere, I promise. You don't need many periods like this all year, but they come often enough and are strong enough to have a huge positive impact on equity. I am happy to see that most posters here have a long only strategy. That's a great LONG TERM edge in INVESTING (401K, etc). For investing, that's the edge. For trading, that is not necessarily the case. Patience is essential so you don't blow your wad before the move you anticipate happening, happens.