Staying Long anyone?

Washed the shorts and yes the longs yet again won the game of inches.

But like a wounded bear I again shorted at yet a higher price hungry for some bull flesh.

 

As the wolves, smelling fear in the air, circle the wounded bear waiting to pounce once the bear finds itself surrounded and panics.

My question is; What has changed since last year?

Nothing.

Until something of a huge magnitude occurs the bull is in control.

Now let me hit you with some clichés:

If nothing has changed then change nothing.

Money is neither created nor destroyed it simply rotates from sector to sector.

A diamond holds no value to a man who is blind.

just

my2cents

 

Here's my analogy:

Is ICE worth 3x as much as it was just 6 months ago?

The market says yes.

Are markets ever wrong? Yes. That's when corrections occur.

 

Here's my analogy:

I'll just keep moving my stop order up. $$$

 

My daily SP-mini futures model has been LONG since 11/3/06 (1364) with brief SHORT trades along the way (12/14-12/21 and 1/25-1/31).

I really don't see much weakness going out a couple weeks. However, I do run this daily and will note changes.

Longer term - I haven't had a LT short since 4/19/06, which covered 6/7/2006 for 50 SP points.

 

Thats what some said last May.

 

Actually, last May was quite different as my long-term model was SHORT (as I posted above).

Today, both the daily and long-term model are LONG. In fact, the LT model has been long since 1270 on August 1 (almost 200 points ago).

 

Bought OEX calls late day at pivot S1,
market saviors pulled it back up near the pivot just before the
close. Nice little profit, thank you market saviors.

 

===========================
Have commented on positions & plans occasionaly;
looks like distribution still going on , in residential construction sector.Thats wall street, main streets vary.

Timely remark, there was some distribution on the gap today;
but at the end of the day, accumulation again/again, many markets.

Hope this helps;
it helped me

 

Thanks for the comments.

Actually I finally rang the register on some shorts. Rough, given the run-up was nearly a week ago.

In any event forced to cover again as price couldn't even stretch its legs out. Which means a few things........

Good luck.