Friday was really bad if you were long. It was worse if one was long financials. Any buyers next week? Anybody long over the weekend? I am carrying some longs over the weekend fully expecting to be whacked on Monday :eek:
You don't vote on your own polls? I notice I voted and there's only one there so far. Anyway, too far too fast. Monday at least should be up, if only by a little. Don't know about the rest of the week, but I voted bullish anyway.
i would like to give credit to this blog for nailing the top on Tue (i think it was AH call) http://financialtraders.blogspot.com/ my critique is that the call was a "soft" one ("cover your longs"). also it was not clear at what adverse price movement the call would be invalidated (stop loss). **disclaimer** i don't have financial interests in the blog
When we were bottoming, we kept getting surprise gap ups. So, I'm not concerned. I can always sell off a couple of long positions if I have to on Monday.
its been pretty easy to time this market lately. i sold everything i had late tuesday just as that blog you talk about said to do..... all anyone has to do, is the opposite cnbc tells everyone. (once they ALL agree on the direction, do the opposite)
one thing that worries me is that VIX did not spike much. there appears to be some disconnect between the nastiness of the sell-off and the low level of fear (as judged by VIX).
What do you guys think of just selling straddles in case the market takes some time to decide on the next course?