after today, day7793 must be crying all over his cheap linoleum floor. Its a good thing, use your tears to wash the floors instead of expensive cleaning products. youll have more money for more weed to ease the pain
What does a 400 point rally teach you when a double bottom is firmly planted by the Feds ? Shorting is extremely risky in this market. Many shorts got hurt on March 11, 2008 when they couldn't unwind positions. Many shorts are still buying SDS and QIDS. I think the bulls are back in control and this will stay for a while. Let this imaginary recession pass, we shall be fine. America is a great country serviced by a great Federal Government.
That 400 point rally didn't teach anything really. Except what can happen when everyone books profits at once. None of that was buying, that was buying to cover. 400 points on over a 1400 point drop since december, and somewhere around a 2000 point drop since oct/nov? a 400 point bounce hurts? are you kidding me? You can let it run over 500 more points and still be profitable shorting.
2/25/08 DOW CLOSE: 12,570 3/13/08 DOW INTRADAY: 11910 DOWN 660 points from that day, There was never a need to cover my shorts or sell any of my inverse ETFs.