In terms of risk/reward, the long side is becoming the favorable trade here, too many bears on one side of the trade now. I can't believe how much my short positions have yielded over the past two weeks alone, and I sure won't cover unless stops are hit, but only a fool would expect much more action out of these trades; reminds me of the recent crude oil boom and bust. Supply and demand dictates if all are sellers, then there are few sellers left; watch out for the short squeeze.
Yeah, so what, did you wait to see how Monday just turned out? I, too thought we were poised for a breakout on Monday but the Wacovia news and the failed bailout plan tanked the market... largest point drop in history.... -777 pts.