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  • dladden7 dladden7 Oct 30, 2008 5:11 PM Flag

    Lot of somber shorts/bears here today

    Exactly vu, that's why i'm sitting through small losses on my short feeling pretty confident. This week or next week.

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    • Dladden, I'm not worry that the market will sky rocket but the Bulls always over excited for a few fake green days. Tomorrow is not a good day because #1 hangman doji #2volume is low compare to yesterday. Tomorrow market will trade sideline with the hangman doji I will put some at 92-93 again for a quick intraday trade,like today. I still holding my long position puts. If market continue to move up, I'll average down on my put. Average down put on this market condition can't loose. Average call you will loose because you have no control or idea how low it wii fall . Look at history performance of DOW for the last 10 years. If you only short the DOW you are a winner,as compare to long. Treat it like you playing long. use DCA(dollar cost average)and average down at every 500pts,or when bar/chart, you will be a winner. Because DOW up 2000pts it tends to give back 1000 or more depends on market condition. As of now We all know market(economy) is not strong so I'm long on put and that's how I play the market. People tend to take profit as soon as market pop up so upside is more limited as compares to downside. Fears always overcome greeds. Whatever I'm still bear till this baby down to 6000pts or lower someday. This is only the beginning. Look at the Japan Index, boy weren't they leading the market back in the early 90s and look at them now.
      Headlines today admit we are in recession and 7000 jobs to be cut from AX? This has only just begun. I will straddle at 86.

      • 1 Reply to thanhthunguyen
      • Yeah, it's interesting the way Cramer explained it. Said after talking to his sources, even the 900 point day was a huge firm buying up S&P futures...basically no one trusts individual stocks, they just want to be in the overall cheap market. So prices are getting dragged up despite poor fundamentals, just another reason I think we have to see a correction. We'll see, either im right and take profits in the 8000's or this thing just keeps going irrationally and i'll have to take my losses.

 
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